IESB.net chatted up producer Peter Billingsley at the Spike TV Men's Choice Award.
Billingsley was asked if he and Jon Favreau were on board for the sequel yet.
"Marvel really kind of lays these things out and it's going to be 'Iron Man 2' and then 'Avengers' after that and we would all love to do the next film," said Billingsley
Billingsley also talked about the army of the "Ten Rings", which held Tony Stark in the first movie, as clearly being an allusion to the Mandarin. However he would not confirmed that the Mandarin would be the villain of the next movie.
"I think there'll be a little more exploration of what that 'Ten Rings' is," said Billingsley. "The ideas are always percolating...there are 40 years of comics to take advantage of."
But what about War Machine?
"That's got to happen," Billingsley said before softening to, "I think, from what I'm being told. But honestly there's no script."