*Universal Pictures is revving up for another sequel to its “Fast and Furious” franchise, with director Justin Lin and original stars Vin Diesel and Paul Walker set to return.

Variety is reporting that the studio has closed deals with all three, as well as producer Neal Moritz, to return to the franchise, which has become one of the studio’s most lucrative.

Production will begin later this year for a 2011 release. This time, the storyline finds Dom (Diesel) and Brian (Walker) as fugitives being pursued by relentless lawmen.

Diesel and Walker sat out the third chapter in the series but returned for last year’s fourth installment, which was the highest-grossing “Fast and Furious” film and Universal’s top grosser of 2009. Its box office haul was more than $350 million worldwide.