A revival of Nickelodeon’s Drake & Josh is officially in the works, according to former co-star Drake Bell.

Speaking on the red carpet at the iHeartRadio Music Awards in L.A. on Thursday, Bell revealed to PEOPLE that he and co-star Josh Peck are in talks with several networks for the new show. “I’m excited. I think we have a great idea,” Bell said.

While Bell was tight lipped on what, exactly, the reboot would be about, a second source told PEOPLE that it would “be more adult and really funny.” Neither Bell, nor Peck, will be reprising their originating roles for the project, however.

Drake & Josh ran on Nickelodeon between 2004 and 2007 and was wildly popular with its fans. The series followed step-brothers Drake and Josh as they navigated their new sibling relationship, alongside the ups and downs of their high school lives. It also starred Miranda Cosgrove as their younger sister, Megan.

“[The show] is going to be way more creative, way cooler than just you know the college years or something like that,” Bell added about the reboot. “We knew that if we were ever going to come back, it’s got to be something cool. I’m excited to see what the fans think.”

Bell and Josh has a brief falling out in 2017, after Bell was not invited to Peck’s wedding and tweeted his displeasure. They later made up at the VMAs. Despite their recent rocky relationship, Bell said he was excited to be working with Peck again.

“We’ve known each other for so long, and it really is once in a lifetime in this industry that you get to work with somebody and it clicks like that,” Bell said. “He’s just got an amazing comedic wit and incredible timing and he’s really smart and we really get along. So I think that it just kind of all goes together.”