For those concerned about the fate of Iron Man 3 without original director and spiritual guide Jon Favreau, here's something that'll make you rest a little easier: He will be involved with next year's movie... as an actor, at least. And he's not the only one.The Hollywood Reporter has news that Favreau will return as "Happy" Hogan in Iron Man 3, reportedly closing a deal to star in the third installment after making cameo appearances in the first two movies. He'll be joined by Ashley Hamilton, who according to Variety will play 1980s-era armored villain Firepower, with Latino Review reporting that Die Hard 2 veteran William Sadler will also be appearing in the movie in some unknown role.

Already announced for the movie - Marvel's first post-Avengers project - are Ben Kingsley, Guy Pearce, James Badge Dale and Rebecca Hall, alongside returning stars Robert Downey Jr. and Gwyneth Paltrow. Shooting started on the project this week, with Shane Black replacing Favreau as director and a script written by No Heroics creator Drew Pearce and Black.

Iron Man 3 will be released May 3, 2012.