A sequel to The Hangover already?

Seems like it, if this in Variety is to be believed:

In a multimillion-dollar commitment, Warner Bros. has set "The Hangover" director Todd Phillips to write a sequel with Scot Armstrong.
The dealmaking comes two months before the first "Hangover" goes out through WB on June 5.
In the comedy, groomsmen take the betrothed for a last fling in Las Vegas, then become so caught up in the revelry that they lose the groom.
While studios often wait to see box office results before committing to a sequel, "The Hangover" has tested strongly, and a trailer brought down the house at ShoWest.
Sequel is the second in the past week to be put in motion before opening day of the first film. Though "Star Trek" doesn't open until May 8, Paramount Pictures already has started the countdown on a second installment, with Roberto Orci, Alex Kurtzman and Damon Lindelof writing the script and helmer J.J. Abrams committing to at least produce with Bad Robot partner Bryan Burk.
Phillips will be back to direct and produce "The Hangover" sequel through his Green Hat Films banner. WB also has made deals to reunite Bradley Cooper, Zach Galifianakis and Ed Helms, who star in the original.
The studio hopes to begin production late this year.
"The Hangover" was written by Jon Lucas and Scott Moore, with an uncredited rewrite by Phillips and Jeremy Garelick.
Phillips remains attached to direct the WB comedy "Man-Witch," producing with Neal Moritz.
-Now let's hope the film is good enough to deserve a second entry...