Amber Tamblyn and America Ferrera more than hinted at there being a third Sisterhood of the Traveling Pants" movie at Friday night's New York City launch of Ferrera's husband Ryan Piers Williams's art exhibit, "Monsters and Landscapes."
"It's actually very much in the works," Ferrera, 30, told PEOPLE. "There's a fifth book, and what's wonderful about it is, and the series to begin with, is that it's really raw and honest about friendship and how hard it can be and how it changes as you grow up."
She adds, "We love each other, and we love this series, and we are so proud of the work that we did together that it would be wonderful to come back at do another one."
Tamblyn, 31, attended the New York art exhibit to help support the husband of her dear friend Ferrera.
The two actresses both said that a third film would be inspired by Sisterhood Everlasting, the fifth book in novelist Ann Brashares young-adult series – although when it came to the fate of her character, the only thing Tamblyn would preview is, "I think in the spirit of the magical pants that there is something magical brewing."