With Denis Villeneuve now officially set to direct James Bond 26, it's a good time to look back at what the filmmaker previously called his favorite 007 flick.

On Wednesday, Amazon MGM Studio announced that Denis Villeneuve will direct the 26th Bond movie, putting the franchise in the hands of one of the most respected big-budget filmmakers. Here's what to know about that decision, and where things stand for 007.

The filmmaker behind the likes of Dune, Blade Runner 2049 and Arrival is undoubtedly an exciting choice for the next movie. However, it signals that we're still in for a long wait to see Bond back on our screens.