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While doing press junkets for his new film Big Mommas: Like Father, Like Son, the comedian says he wants to do another big screen adventure of Miami police detectives Mike Lowrey and Marcus Burnett. Lawrence claims a script is being worked on. "That's something I think looks very real. Will (Smith) told me that he wanted to do it as well. Michael Bay I heard was on board and Jerry Bruckheimer. We'll see."

It should be noted here that besides Lawrence, the other key participants have yet to even comment on the possibility. Lawrence couldn't even confirm Bay and Bruckheimer being directly involved. This sounds more like Lawrence's wishful thinking than actual movement. After all, Bad Boys 3 sounds much better than having to wear a fat suit and heavy makeup for Big Momma 3.

So long as Will Smith is busy making blockbusters (and gearing up for another Men in Black) and Bay is occupied with movies like Transformers, another Bad Boys is probably not high on either man's list. Bad Boys 2 was released in 2003 and was only a modest success at the box office ($130 million is the low end for Smith and Bay these days). The movie itself was a mess, and not nearly as good as the original. When it ran out of jokes and a storyline, it was loud, crude, and obnoxious. Basically Martin Lawrence when he's off his meds.
Despite what Lawrence may say, it's doubtful we'll see another Bad Boys anytime soon, until Will Smith decides he really wants to.
Source: VultureBlog