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Great news, High School Musical fans: Two of your favorite actresses are signed up for High School Musical 3!

According to Us Weekly, both Ashley Tisdale and Vanessa Hudgens will reprise their roles in the follow-up, with the latter even receiving a “substantial increase” in pay.

“Vanessa is locked for the movie,” a High School Musical source tells Us. “She is very happy that the deal is done.”

So are numerous fans, who can also rejoice over the fact that Zac Efron is reportedly also signed for the film.

“The contract will be signed within the next week,” a Hudgens source says. “It is almost a done deal.”

Hudgens’ naked picture scandal – maybe you heard about it – led to reports that either Adrienne Bailon and Sabrina Bryan would replace Vanessa in the franchise.

High School Musical 3, the first in the hit movie series to be a theatrical release, is set to begin shooting in January 2008.

Co-stars Corbin Bleu and Monique Coleman are also in final negotiations, according to their publicist.