Royal watchers who were thrilled with the news claiming that the Princess of Genovia is heading back to the big screen will be disappointed, as Disney Pictures reportedly revealed that "The Princess Diaries 3" is not in the works. 

A source who is allegedly close to Disney told the Entertainment Weekly that the blockbuster comedy film will not have another sequel. This is in contrast with a report posted on Tracking Board, saying that Disney is developing the third film although lead actress Anne Hathaway might not return this time. 

"The Princess Diaries" first graced the big screen back in 2001, featuring Hathaway as Mia Thermopolis. Mia is the average American teen from San Francisco who has to deal with the everyday struggles of being in high school. But her life changes when she meets her paternal grandmother Clarisse, who happens to be the ruling monarch of the fictional Kingdom of Genovia in Europe, and she is the only heir to the throne. Clarisse is portrayed by actress Julie Andrews.  

The first movie shows Mia's transformation as a clumsy, unpopular high school student to a graceful, responsible Genovian princess. 

Because of its commercial success, "The Princess Diaries" was given a sequel. This time, Mia is already appointed as the Crown Princess of Genovia after graduating from the Princeton University. Queen Clarisse already stepped down from the throne, and Mia is left to lead the country while looking for a potential husband. 

"The Princess Diaries 2" also earned high box-office returns when it was released in 2004. 

In 2012, Access Hollywood asked Andrews if she will be willing to reprise her role as Queen Clarisse for a third installment. According to the legendary actress, she is always open to whatever Disney has to offer, but she didn't believe that "The Princess Diaries" would have a third movie.

"I would never say no because Disney's so wonderfully clever and inventive, but I would think they'll stay with just the two because of Annie," Andrews said.