Five years after his death, Michael Jackson still knows how to make headlines. The New York Daily News reports the late singer's music video "Thriller" will receive a 3D makeover in 2015.

The development comes following a settlement reached with Jackson's estate and the payment of "Thriller" director John Landis. Clocking in at 14 minutes, the hybrid short film/music video cost $500,000 to make in 1983 -- more than 10 times the average cost of its peers. Since its release 31 years ago, the video has become a cultural touchstone and staple of the Halloween season. In 2009, "Thriller" became the first music video to be inducted into the National Film Registry by the Library of Congress, an honor recognizing works that are "culturally, historically or esthetically" significant.

"['Thriller'] is going to reappear in a highly polished and three-dimensional way that is very exciting on the big screen," said Landis, who's rumored to have been working on this project in secret for the past several months.

The 3D "Thriller" experience is expected sometime in 2015, with talk of it running in theaters and possibly becoming available on Blu-ray. This development, according to a source close to the Jackson family, follows in line with Jackson's wishes.

"The iconic video has never been released on Blu-ray or seen in cinemas and 3D, and that was always a vision Michael had," the source told the Daily News. "In fact, his 'This Is It' London show was meant to feature a segment which included a 3-D performance." The source goes on to mention that a theatrical release could be just the beginning; video games and feature film spinoffs could always follow.