When last we reported on the status of the Dumb & Dumber sequel, it had been dropped by Warner Bros. with Bobby and Peter Farrelly eyeing Red Granite to finance and a number of studios vying for domestic distribution.  Today, the Farrelly brothers confirmed that Red Granite will indeed be backing the film as well as handling international distribution, and that Universal Pictures has stepped in as a domestic distributor.  Fans of Harry (Jeff Daniels) and Lloyd (Jim Carrey) should now be excited that the long awaited sequel to the 1994 hit comedy can now get off the ground.  Hit the jump for more.

Here's what Peter Farrelly had to Tweet earlier today:

Farrelly Brothers ‏@farrellybros

IT"S OFFICIAL: Dumb and Dumber To is going into production with @RedGranitePics and @UniversalPics!!! #DumbTo P pic.twitter.com/uS8UIXSRj4

Carrey and Daniels have agreed to reunite for the sequel and The Farrellys will also return to the directors’ chair(s).  The picture centers on the pair once again hitting the road in order to find Harry’s illegitimate daughter for a kidney transplant.  .

It remains to be seen whether Universal made the right move in picking up the sequel that WB dropped, but according to Heat Vision's Borys Kit, sources have the film possibly shooting this fall and releasing next year.  For those of you playing along at home, that would mean Dumb and Dumber To would open on the 20th anniversary of the original.  Will you be up for a reunion?

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