AceShowbiz -

It has been three years since "Real Steel" raided theaters. Although there has been no significant progress announced, the sequel is still underway. Director Shawn Levy revealed at the Toronto International Film Festival that he's quietly developing the action sci-fi with star Hugh Jackman.

"We have been quietly developing a sequel to 'Real Steel' for three and a half years," Levy revealed to Coming Soon. "We've come up with some great scripts but Hugh and I would only make it if the plot feels fresh, but also the character journeys feel fresh, and we've found both but never at the same time. It's ongoing. I know the clock is ticking."

The director also weighed in on the commercial factor. "That movie, weirdly, for a movie that did very well globally - it did okay domestically - but the love for 'Real Steel' remains kind of unique as far as rabid fans who ask me all the time for another one," he said. "Hugh and I love that movie so if we can crack it, we'll make it, but I have this sense that we better make that happen soon or frankly, the audience may not be there in the same way. So we shall see."

The 2011 movie has earned $85 million in North America so far and $213.8 million in other territories for a worldwide total of $299.2 million.

Two years ago, Levy had been toying with a story plot for the untitled Real Steel sequel. He said it would explore "the class warfare between the underworld fight-clubs and the sanctioned, monetized WRB, which is at work in this movie but is really a big part of the second." He also hinted to MTV, "I think that this movie works because of its humanity, so if we made a sequel, the humanity would remain the priority."