Will Smith has signed on to star in Men In Black 3, which will be released in 3D.

Smith will be reunited with director Barry Sonnenfeld in the movie, which will feature a plot centered around the rapper/actor traveling back in time, to 1969.

According to sources, producers of the 3D flick are currently negotiating with MIBís previous co-star, Tommy Lee Jones and actor Josh Brolin, who will play a younger version of Jonesí character.

MIB in 3D will be executive produced by legendary filmmaker Steve Spielberg and is slated to hit theaters on May 25, 2012, during Memorial Day weekend.

Men In Black 3 will be released by Columbia Pictures.