'Sherlock Holmes 3' release date: producer Joel Silver says they want to film before year's out

Robert Downey Jr. will reprise his role as Sherlock Holmes.Warner Bros.

Speculations about the development of "Sherlock Holmes 3" continue to be discussed online after the possible start of production was revealed.

According to an exclusive report from Deadline, the script for the third "Sherlock Holmes" film starring Robert Downey Jr. in the titular role will be written by screenwriter James Coyne.

The screenwriter will be reunited with his "Treasure Island" producer Lionel Wigram to re-write the script that was first penned by Drew Pearce in 2011, right after the release of the second film called "Sherlock Holmes: A Game of Shadows."

Speaking with Collider, film producer Joel Silver said that the shooting for the third installment of the "Sherlock Holmes" movie franchise will begin by the end of 2016.

"It looks like it could happen this fall. Downey said he wants to do it. He's gotta launch into another Avengers movie, right after the New Year, so we're trying to get it done," Silver said. "We have a script that we like. Jude [Law] is available and Downey is available, and we're hoping we can get it done. If it works, great. If not, we'll do it another time. But, it looks like it could happen now."

Silver also hinted that the third "Sherlock Holmes" film will probably not be the last, since they are planning to make more sequels for the film in the future.

"I hope [it's not the last one]. I don't think so. How many Bond films have they made? As long as there's a character, we can work with it. It's not an end story. We can keep going, as long as people want to do it. It's [the actor's] call," the film producer said. "They have to say, 'Okay, I'm ready to go.' I read about them making another Bad Boys. If they want to do it, then you try to get it done."

More details about "Sherlock Holmes 3" release date are expected in the coming days.