Ben, who starred in the 2004 comedy with Vince Vaughn and produced through his Red Hour company, has asked Clay to begin work on a script for 'Dodgeball 2', said The Hollywood Reporter.
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Vince Vaughn and Ben Stiller
Clay was once the lead guitarist of rock band Bullet LaVolta in the 80s but branched out into writing screenplays for TV and film in the 90s, with his previous work including 'Joy Ride' with JJ Abrams.
'DodgeBall: A True Underdog Story' starred Ben and Vince as competitive rival gym owners, who decide to compete in a dodgeball tournament. The film also starred Justin Long, Ben's wife Christine Taylor and Rip Torn, with cameo appearances from Jason Bateman, William Shatner and David Hasselhoff.
The film was a huge hit in the box office, and made more than 114 million US dollars in the States.
According to sources, 'DodgeBall 2' will see the gym owners reluctantly "team up to fight an even bigger threat".
Both stars have considered the idea of a sequel, along with Fox, for some time but there has been no development until now.
Also on HuffPost:
Unnecessary Sequels
'Teen Wolf Too'(01 of14)
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Grammar jokes! The key to any good movie sequel? Jason Bateman gamely mocked his first movie role with Jimmy Fallon last year.
'American Reunion'(02 of14)
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Nine years after "American Wedding," Universal got the "American Pie" gang back together for their 12-year high school reunion. Unfortunately, audiences didn't care: the fourth film in the franchise earned just $56 million after its release this April, roughly half of what "Wedding" grabbed. Stale pie, anyone? (Groan, but really.)
'Cars 2'(03 of14)
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Despite massive ticket sales and toy-merchandising revenue, "Cars" was the least-liked Pixar film -- at least judging from Rotten Tomatoes, where it received just a 74 percent positive rating from critics. Of course, critics don't pay the bills, and Pixar went ahead with "Cars 2" -- a sequel that was seemingly unnecessary for everyone but the Disney accountants. The film grossed $559 million worldwide last year.
'Jaws: The Revenge'(04 of14)
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"Jaws 3D" couldn't kill the "Jaws" franchise, but making it personal sure could! "Jaws: The Revenge" cast original "Jaws" star Lorraine Gray -- who played Chief Brody's wife, Ellen -- in the film alongside Michael Caine and a revenge-seeking shark. And you thought movies were bad nowadays!
'Speed 2: Cruise Control'(05 of14)
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The original "Speed" was a sleeper hit with critics and audiences. Its sequel -- which recast Keanu Reeves with Jason Patric, but kept Sandra Bullock -- was not. Pop quiz, hot shot: you're on a cruise ship that has to stay above 20 knots? Ugh, never mind.
'Indiana Jones & The Kingdom of the Crystal Skull'(06 of14)
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"You know what the Indiana Jones franchise needs after the perfect ending of 'The Last Crusade'? A movie where Indy fights aliens!" -- No one.
'Major League II'(07 of14)
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All the stuff you loved about "Major League" disappears in this grating sequel -- which actually spawned another sequel, "Major League: Back to the Minors." Back when he was winning and hashtagging, Charlie Sheen threatened to make "Major League 4," but that hasn't happened. Yet.
'Star Wars - Episode I: The Phantom Menace'(08 of14)
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Technically not a sequel, but it's hard to argue with the "Star Wars" prequels being necessary. After all, they pretty much ruined "Star Wars" for a generation of Original Trilogy fans. (Just us?)
'Wall Street: Money Never Sleeps'(09 of14)
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More like "Wall Street: Puts You To Sleep." Oliver Stone's ill-fated sequel to "Wall Street" felt toothless, especially in the wake of superior films about the 2008 financial collapse, like "Margin Call."
'Dumb & Dumberer'(10 of14)
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Don't take our word for it that "Dumb & Dumberer" was unnecessary, listen to original "Dumb & Dumber" director Peter Farrelly. "You know, I never saw it. That's the truth," he told HuffPost.
'The Godfather Part III'(11 of14)
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Just when you thought you were out, they pull you back in with an unnecessary -- though not totally bad -- threquel to the classic first parts of "The Godfather." Anyone want some gnocchi?
'Caddyshack II'(12 of14)
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Rodney Dangerfield >>>>>>>>>> Jackie Mason.
'Basic Instinct 2'(13 of14)
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Actual IMDb plot summary for "Basic Instinct 2," which arrived in theaters 14 years after the sexy-stylish first film: "Novelist Catherine Tramell is once again in trouble with the law, and Scotland Yard appoints psychiatrist Dr. Michael Glass to evaluate her." OK, then, Scotland Yard! Perhaps Sharon Stone needed the check.
'Book of Shadows: Blair Witch 2'(14 of14)
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Let's make a sequel to the shaky-cam faux-documentary sensation that was "The Blair Witch Project," but without the shaky-cam faux-documentary part. Good call, all!