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Scribe Dutch Contractor is hired to pen the script, while director Simon West shares he sets his eyes on Angelina Jolie, Cameron Diaz and Milla Jovovich for the female-centric actioner.
Directed by Peter Segal, the comedy is going to follow two retired boxers who return to the ring for a final grudge match.
Screenwriter Marcus Webb has filed a lawsuit against Stallone, claiming that the action star has copied the idea of his screenplay titled 'The Cordoba Caper' for the 2010 action movie.
Though his character was shot in 'The Expendables', his co-star Bruce Willis says he will come back to the second film.
As the horror movie and the action thriller compete for the champion title, 'Avatar' re-release sinks below the top ten.
Sharing his idea for the follow-up to the action film, Stallone writes on his Twitter, 'I want him [Willis] in EXPENDABLES II as a super villain.'
The action movie, starring Sylvester Stallone alongside Jet Li and Jason Statham, and featuring cameos from Bruce Willis and Arnold Schwarzenegger pulled in around $5.9 million.
The 'Twilight' spoof which debuted well on Wednesday, August 18 rakes in around twelve million dollars during the weekend, but it does not surpass this week's cume of 'Expendables'.
The star-studded action movie, which possibly will get a follow-up, debuts on number one at the chart, followed by 'Eat, Pray, Love' starring Julia Roberts.
Saying that he has an idea for the second film, the director who also stars in the film claims that the sequel will be made if investors are willing.
Those tough men such as Bruce Willis and Mickey Rourke are accompanied by their ladies when coming to Grauman's Chinese Theatre on Tuesday, August 3.
The behind-the-scene video additionally shows how Sylvester Stallone injured himself when filming a duel scene with co-star Steve Austin.