With "Avatar" already reaching the milestone of being the highest grossing film worldwide, it's no surprise that 20th Century Fox will be pushing James Cameron to do an "Avatar 2."

According to The Hollywood Reporter, CEO Rupert Murdoch said on his quarterly earnings call Tuesday that the conglomerate is in "very early talks about it." Director James Cameron "has ideas" for a sequel, he said, adding: "We will be pushing for one."

But he cautioned analysts not to "hold your breath for an early one" in a possible reference to Cameron projects often taking a long time to come to fruition.