Paramount Pictures and Will Ferrell have joyfully announced awesome news this week as Ferrell, dressed in the fantastic 70′s suit of Ron Burgundy, grabbed his jazz flute and took to the set of Conan to announce a sequel to often quoted Anchorman: The Legend of Ron Burgundy.

I can only imagine the huge slew of quotes that will errupt from the sequel to Ron Burgundy’s first movie, which still resonates from 8 years ago. Since then fans of the movie have been asking for a sequel but as much as we wanted it to happen it always seemed as if there was some snag that kept the fun from happening.

And then this happened. Check out Ron Burgundy blowing his flute for Conan and announcing the great news this week.

Clad in his character’s signature wine-colored suit, Will Ferrell appears on tonight’s show and early footage has already leaked out. He made some crude sexual comparisons between his flute and his penis before praising O’Brien and sidekick Andy Richter for being “outstanding broadcasters.”

The pompous anchor of San Diego’s Action 4 News had only one criticism: “It’s probably only something a professional like me would notice, but Conan — you look awful.”

Burgundy insisted he was only giving the late-night host some tough love. “You look like someone put a bright red fright wig on a skeleton. And chucked it out of a helicopter,” Burgundy said. “I’m being kind right here.”

He offered O’Brien some words of advice: Fire his hair, make-up, and wardrobe people. “Just go under the knife, okay?” he suggested. “Go into your doctor’s office and point at your face and say, ‘Doc, it’s a page-one rewrite.’”

Almost as an afterthought, Burgundy got around to the point of his appearance:

“As of 0900 Mountain Time, Paramount Pictures and myself, Ronald Joseph Aaron Burgundy, have come to terms on a sequel to Anchorman,” he declared. “It is official! There will be a sequel to Anchorman. There will be a sequel.”

He then walked off, tootling his flute. [via EW.com]