Paul Reubens has confirmed to Comingsoon.net that there will be another Pee Wee Herman movie and he's working on it.
"It's going great. We have a meeting this coming week. We just did a very quick little rewrite on it. As far as I know it's getting shot very soon" said Reubens who is co-writing the script with Paul Rust. "I actually wasn't supposed to talk about it initially. I was talking about it in this very veiled, secret way going, 'Oh, I wish I could talk about it.' ...It got leaked about six months to a year before it was supposed to."
He's got a huge cult following still, with Tim Burton beginning his directing career helming the first film.