Michael Jackson's 'Thriller' Video to Be Re-Released in 3-D

10/02/2014 AT 12:50 PM EDT

In 2015, Michael Jackson fans will see a sight under the moonlight that could almost stop their heart.

Director John Landis is bringing a 3-D version of the music video for Michael Jackson's "Thriller" to life, according to the New York Daily News.

Exactly how fans will be seeing the video isn't set in stone yet, but Landis hinted at a Blu-ray and possibly theatrical release. A dispute with Jackson's estate held up the project for "many years," Landis told the News, but – in his words – "we settled and they paid me finally … so actually there is something happening with 'Thriller.' "

"It is going to reappear in a highly polished and three-dimensional way that is very exciting on the big screen," he added.

"The iconic video has never been released on Blu-Ray or seen in cinemas and 3-D, and that was always a vision Michael had," a source close to the Jackson family revealed to the paper.

The influence of the "Thriller" video's 14 minutes, voted by Rolling Stone readers as the greatest music video of all time, can't be overstated. The reported $500,000 budget for the video was more than 10 times the average cost of a video in 1983, and "Thriller" 's success ushered in the era of the music video as a cultural event.

But the video's legacy doesn't just live on in thousands of pop-culture references and viral clips: In 2009, it was inducted into the National Film Registry by the Library of Congress, the first (and currently, only) music video to receive the honor.

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