Marvel Studios and "Iron Man" director Jon Favreau have apparently reached a deal for him to helm the sequel due out in 2010 reports Deadline Hollywood Daily.

Marvel Studios has apparently put out a "definitely richer offer" to Favreau to helm the next installment after a drawn out, two-month and quite public negotiating impasse.

With no screenplay as yet set, Favreau last month expressed a justifiable concern that the April 2010 deadline is unrealistic.