Sylvester Stallone is working on a sequel to his biggest hit in years, The Expendables, but won't be directing or writing this time.
According The LA Times, Bruce Willis is still up for the major villain role, with Arnold Schwarzenegger also being heavily mooted for a bigger part for the sequel. Stallone is busy with a few projects at the moment, but it will nonetheless be interesting to see who he picks to direct the second film. John Woo should get a call... and don't be surprised to see other action stars like Nicolas Cage (or the like) turn up.
Last film was incoherent in parts, but generally brainless fun. If Stallone brings back Dolph Lundgren then he should really go with subtitles. I still have no idea what he was saying.