EXCLUSIVE: It's not officially announced yet, but I'm told that Marvel Studios and Iron Man director Jon Favreau have reached a deal for him to helm the sequel, due out in 2010. (Robert Downey Jr had a sequel clause in his contract so he's on board.) Marvel Studios boss David Maisel was quick to put out a "definitely" richer offer to Favreau, but not quick enough for Jon -- who used the Internet and other media to rile up the movie's many fans by spreading nonsense that Marvel was dragging its feet and then lowballing him.

http://www.deadlinehollywooddaily.com/marvel-locks-in-jon-favreau-for-iron-man-2/