'The Spongebob Movie: Sponge on the Run' is heading to Netflix.

The live-action, computer animated hybrid based on the hit series is the third feature film based on the titular character following 2004's 'The SpongeBob SquarePants Movie' and its 2015 sequel.

The film was intended for theatrical release but was, like many other movies, delayed.

Now it's making its way to on-demand.

'Sponge on the Run' was initially set to be released by ViacomCBS.

Now, reports Variety, Netflix have swept in and acquired the international distribution rights.

The deal excludes China, as Netflix has no presence there.

Paramount still plans to release the film in Canada at some point. Netflix will stream it in that territory after.

Netflix is not beholden to the 2021 domestic debut originally set by Paramount before making the movie available to customers outside the US.

CBS All Access also has a deal for the movie with Paramount. Reportedly, between that and the Netflix deal, the studio has been made whole on the cost of the project, which was roughly $60 million.

Netflix also acquired and released 'The Lovebirds' this year following its cinematic release postponement.

With this latest being so fresh, there's obviously no release date for 'The Spongebob Movie: Sponge on the Run' just yet.

But Keanu Reeves is in it so, obviously, we can't wait.

Check out the trailer beneath.