From what Dean Devlin told the Hollywood Reporter, they're actively looking to move forward on the ID sequel, though the stars will likely need to align for it to happen.
Quote:
I can tell you that Roland and I have been working together for the first time in 11 years and we’re very excited about the idea of doing it. Whether or not we can make this happen, if we can get all the pieces to come together, that’s gonna be challenging. But creatively, for the very first time since we did the original, I feel we have a worthy concept, a worthy path to go.
"We resisted doing the sequel for years because we still wanted to honor the first one. The first one gave us all careers, and we really love that movie and loved the experience," Devlin explained. "We didn’t want to make a movie because it was financially a good idea, we only wanted to do it when we had an idea and a concept that creatively felt like it honored the first one -- that it felt like an organic sequel as opposed to ‘let’s just go make some more money.'
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http://www.cinemablend.com/new/Indep...uel-31789.html
http://www.empireonline.com/news/feed.asp?NID=34504