British comedy veterans Monty Python are set to reunite for a new show in their first major collaboration in 30 years, member Terry Jones has revealed.

“We’re getting together and putting on a show – it’s real,” Jones told the BBC on Tuesday.

“I’m quite excited about it. I hope it makes us a lot of money. I hope to be able to pay off my mortgage!”

The BBC reported that the new collaboration – the first major project since the 1983 film Monty Python’s The Meaning Of Life – would come in the form of a theatre show.

Surviving Pythons John Cleese, Terry Gilliam, Eric Idle, Michael Palin and Jones – who are all in their seventies – are set to formally announce the new project at a press conference in London on Thursday.

The troupe won a cult following with their zany TV series Monty Python’s Flying Circus between 1969 and 1974.

They went on to make several hit films including Monty Python And The Holy Grail (1975) and Monty Python’s Life of Brian (1979).

The final Meaning Of Life film in 1983 was the last time the group appeared with their sixth member Graham Chapman, who died of cancer six years later.

The remaining Pythons have not appeared together since 1998 when they performed at the Aspen Comedy Festival in the United States.

But a spin-off musical Spamalot, based on the Holy Grail movie, has proved a hit on both Broadway and London’s West End over the last decade.