Robert Downey Jr. confirmed in a Reddit Q&A that “Sherlock Holmes 3” is in development. Yahoo! has the following story:

Robert Downey Jr has taken a moment out from his busy schedule hinting at, confirming, and then denying the existence of Iron Man 4, to briefly talk about Sherlock Holmes 3.

He may be best known worldwide for playing Tony Stark but let’s not forget he also has another hit blockbuster franchise under his belt in Sherlock Holmes; the last film was released in 2011.
During a Reddit AMA held to promote his new film The Judge, Downey Jr confirmed that plans were in place, saying: “Yes, we have a Sherlock 3 in development. We want it to be the best of the series, so that’s a pretty tall order.”

It has certainly been good to see no rush to make a third film, but it seems the time is drawing closer for it to become a reality.

Series director Guy Ritchie was propelled into blockbuster Hollywood by his work on the first two films, and is currently putting the finishing touches on spy thriller The Man From U.N.C.L.E before starting work on a King Arthur film set for 2016.

This means a likely 2017 release date for Sherlock Holmes 3, unless studio Warner Bros opt to hire a new director instead.

The first two films starred Downey Jr as the famous detective, Jude Law as Watson, Rachel McAdams as Irene Adler, and Jared Harris as Professor Moriarty.

It has not yet been announced who of the cast will return and we might not see Rachel’s character Irene Adler back at all given what (seems?) to happen in the second movie but we will keep you posted on the development of the 3rd movie.