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“I have a meeting today to go over the script! I swear! I don’t think it’ll be out until probably 2015, but I’m guessing – it could be late 2014 or 2015. But it will be back – Life-Size will be back, better than ever […] I can’t [tell you anything] unfortunately… I’m under contract with Disney and I can’t talk about it at all, except that it’s coming. But it will be very different, very different. Very modern – a modern take.”

Tyra Banks confirming in a January 19, 2014 interview with Digital Spy, that a sequel to her 2000 movie Life-Size is currently in development. 

Rumors had been floating around about the possibility of a sequel since 2012, but nothing concrete had been confirmed until now. 
The original movie starred a much younger and drama-free Lindsay Lohan as a girl whose Barbie-like doll, Eve, played by Tyra Banks, come to life. It’s not a film I’ve seen, so I’ll defer commentary to those of you who have.
No word on whether Lohan will return for the sequel as well.
In the meantime, here’s a memory-refresh from the first movie.