Geoff Boucher reports in on his LA Times Blog that he “just talked to Jon Favreau a bit ago, and he said that while there hasn’t been a formal announcement on the sequel to “Iron Man,” he’s begun developing it. “We’re working on it now,” he said, “which hasn’t been officially announced. It will be released in 2010.”

This is not new news, but at least it’s the first confirmation from Favreau himself that he will meet Fox’s previously announced 2010 release.

Stay tuned for the official announcement!