On Friday, Ben Stiller officially announced through Instagram and Twitter that Penelope Cruz has been cast in Zoolander 2. The character that she will be playing, however, has not yet been specified.

The sequel to Zoolander, which was released in 2001, will feature Stiller along with several other original cast members, including Owen Wilson, Christine Taylor and Will Ferrell. Kristen Wiig has also been confirmed as a part of the cast, but her role has also not been revealed.

There has been speculation about whether or not Cruz would be joining the cast of the new comedy movie for months. Ben Still will be directing and co-writing the film along with Justin Theroux.

The two last worked on Tropic Thunder which debuted in 2008. In Zoolander 2, the follow up to Zoolander which was a hit, Stiller will of course be reprising his role as Derek Zoolander, male supermodel and inventor of Blue Steel.

Owen Wilson will be playing his best friend, sometimes rival, Hansel, who is also a model. Christine Taylor will play Zoolander's love interest, Matilda Jeffries, and of course Will Ferrell will return as the evil fashion mogul, Jacobim Mugatu.

When Zoolander came out in 2001, it only grossed 60 million dollars, which while not much, turned a profit since the movie was produced on a 28 million dollar budget.

Since then, it has become globally popular and is one of the most quotable comedy films of the 2000s.

In the past six months or so Zoolander 2 has begun to pick up momentum, with events such as a script read through and casting updates taking place. The movie is set to arrive in theaters on February 12, 2016.