WATCH: Sir Ian McKellen Planning A Sequel To “The Hobbit,” “Gandalf The Gay”

As part of his week dedicated to The Hobbit, Stephen Colbert invited Sir Ian McKellen onto his show, where the esteemed actor and gay rights advocate detailed some plans of his own:

“You know we’re making a sequel in Middle Earth.  It’s going to star Gandalf the Gay,” McKellen joked. “And you get to find out who is his favorite dwarf.”

And gay fanboys everywhere rejoiced.