Is there going to be a 'Willow 2'?

This is undoubtedly THE most frequently asked question ever.

George Lucas has many projects he wants to do after he completes the 'Star Wars' Prequels. One of these projects might be a sequel to 'Willow'. If it were, would it be based on one of the sequel books? (Oh no, now I'm asking the questions!)

I'm sorry if this is a little vague, but I really don't have any more info. However, if I hear anything, you'll read it here first!