Megan Fox, Shia LaBeouf to Film Transformers 3

 Paramount Vantage

Megan Fox and Shia LaBeouf are ready for round three!

The two will reprise their roles in the third film of the Transformers blockbuster franchise, which is set to hit theaters in 2011.

"Transformers 3 has been going very well," director Michael Bay wrote on his official blog Monday.

In addition to the two young stars, he says he's added some big names to the cast.

"We just locked in Frances McDormand and John Malkovich," he wrote. "Both amazing actors I've always wanted to work with."

He also cast Ken Jeong, who stars in NBC's Community and is a "super-funny actor" who has appeared in such flicks as Knocked Up, The Hangover and Role Models.

Pre-shooting will begin in one month, and Bay plans to film in more than eight locations, including L.A., Chicago, Texas, Africa, Moscow and China.

Transformers isn't the only big-budget superhero movie to move forward on casting.

Chris Evans — best known for his role in Fantastic Four — has signed on to play Captain America in the Marvel comic book movie of the same name, The Hollywood Reporter reports.

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