08/08/2014 10:38 EDT | Updated 08/08/2014 10:59 EDT

'Arrested Development' Season 5 Is A Go On Netflix: Will Arnett

Hold on to your banana stand investments folks, the Bluth family is coming back.

Will Arnett confirmed the news Thursday night on "The Tonight Show" with Jimmy Fallon.

“Netflix announced that 'Arrested Development' is coming back for another season. Is that true?” asked Fallon.

Arnett's response? “And the answer is… yes!”

Season five of the cult favourite TV show will return on Netflix after the TV and movie streaming service revitalized the show last year. Chief Content Officer Ted Sarandos suggested on Tuesday the company would pick up the show, saying he was "positive" the show would be back for a fifth season, adding it's only a matter of timing.

Season 4 was criticized by fans for focusing less on the oh-so-dysfunctional family and more on individual characters, but here's hoping another season will give the show runners a chance to patch things up.

What do you think about the recent developments? Let us know in the comments below.

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