Keanu Reeves' dream project appears to be dead in the water.

During a wide-ranging Reddit AMA on Sunday afternoon to promote his forthcoming directorial debut "The Man of Tai Chi," the actor told users that the live-action "Cowboy Bebop" movie in which he was attached to star as intergalactic bounty hunter Spike Spiegel probably won't be happening - at least not with him in the lead role.

"Cowboy Bebop does not look like it is going to happen with me in it," said Reeves. "The script that was written was great and amazing, but it would cost like half a billion dollars to make it...I wished and hoped I would have done that project."

On the brighter side, the actor did say he's still hoping to get a third "Bill and Ted's" installment moving, telling users: "We are working on trying to get 'Bill & Ted 3.' There's a script and we are trying to put it together."

Reeves first became involved with "Cowboy Bebop" in January 2009. The film would have been the first live-action of adaptation of the popular anime series, which first premiered on Japanese television in 1998.

Are you disappointed Reeves' version of "Cowboy Bebop" probably won't be making it to the screen? Vote in the poll below to let us know.

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Are you disappointed the "Cowboy Bebop" movie isn't happening with Keanu Reeves?