"I'm quite excited about it. I hope it makes us a lot of money. I hope to be able to pay off my mortgage!"

The BBC reported that the new collaboration -- the first major project since the 1983 film "Monty Python's The Meaning Of Life" -- would come in the form of a theatre show.

Surviving Pythons John Cleese, Terry Gilliam, Eric Idle, Michael Palin and Jones -- who are all in their seventies -- are set to formally announce the new project at a press conference in London on Thursday.