AceShowbiz - Rob Lowe shares a new exciting update for fans. The actor revealed that a sequel to the iconic 1985 coming-of-age film "St. Elmo's Fire" is in the early stages of development.

"We've met with the studio and I have been talking about doing it for about four months," Lowe, 60, told Entertainment Tonight. "But it's very, very, very, very, very early stages. So we will see."

The original "St. Elmo's Fire" featured Lowe alongside Demi Moore, Judd Nelson, Andrew McCarthy, Emilio Estevez and Ally Sheedy as college graduates navigating the ups and downs of young adulthood. The film has gained a cult following over the years.

Lowe, who played the troubled saxophonist Billy Hicks in the film, credited the recent popularity of the Hulu documentary "Brats", which explored the rise and fall of the "Brat Pack", with renewed interest in a sequel.

"The buzz around 'Brats' has only added to the excitement around it," he said.

While John Owen Lowe, Rob's 29-year-old son and co-star in the Netflix comedy series "Unstable", has never seen the original film (he mistakenly referred to it as "St. Elmers"), Rob remains enthusiastic about the possibility of revisiting the story.

"It's a very special movie," he said. "And I think it would be really fun to see where these characters are now."

Sony reportedly began exploring the possibility of a sequel in June, with hopes of reuniting the original cast members. No further details have been released at this time.