Black Sabbath fans have been clamoring for new music from the band's classic original lineup for years, and their cries have only gotten louder since the group's reunion in the '90s. Until now, they've had to content themselves with a pair of new studio tracks on 1998's live 'Reunion' set -- but it looks like Sabbath are finally ready to record again, and collect a substantial payday in the process.

Confirming weeks of persistent rumors, the band recently announced plans to team with producer Rick Rubin for the original lineup's first studio album in 33 years, as well as a world tour. The reunion reportedly is expected to bring in roughly $160 million for singer Ozzy Osbourne, guitarist Tommy Iommi, bassist Geezer Butler and drummer Bill Ward.

The announcement was made Friday at the Whisky A Go Go in Hollywood, where punk icon Henry Rollins hosted a Q&A session with the band. When Rollins, who described himself as the event's "press liaison," asked the reunited Sabbath the question on everyone's mind -- "why now?" -- Osbourne responded with a simple "It's just time."

"It’s now or never. We get along great. Everything’s really good," elaborated Iommi, who joked that Rubin had been pestering the band members to reunite by calling them "every five minutes."

These are still early days for the reunion, which has thus far consisted mainly of rehearsing for the album and tour, both of which are scheduled for next fall. But Butler has heard enough to tell those long-suffering Sabbath fans the words they've waited so long to hear: "It’s really back to the old Sabbath style and sound."