Megan Fox on “Transformers 3″

The first two films were fiercely successful so it’s no wonder Megan Fox is on board for the third installment of the “Transformers” franchise.

According to a report, the “Jennifer’s Body” babe, along with her costar Shia LaBeouf, has agreed to star in “Transformers 3.”

Director Michael Bay blogged, “Transformers 3 has been going very well. We just locked in Frances McDormand and John Malkovich. But amazing actors I’ve always wanted to work with.”

Of course there’s tons of work to do on the film before it will be ready for theaters- currently there’s a Summer 2011 projected release date.

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