Monty Python team to perform again for first time in 30 years
The remaining members of Monty Python will perform together in London's O2 Arena more than 30 years after their last stage performance.
The veteran comedy troupe - John Cleese, Michael Palin, Eric Idle, Terry Gilliam and Terry Jones - announced the news at a press conference in central London.
Its host Warwick Davis was heckled throughout by the Pythons.
The Pythons have amassed millions of fans for their groundbreaking, anarchic comedy series and films, which also launched their own successful solo careers.
Davis joked that the capital has provided the "second biggest bribe" during the group's hunt for a venue.
Asked why the reunion was being held now, Idle joked: "We're all trying to pay for Terry Jones's mortgage."
Cleese said "at first" the gig would be "a one and only" but refused to rule out further performances.
The show has been described as having "modern, typical, Pythonesque twists".
The press conference was held at London's Playhouse Theatre, where Python musical Spamalot is being performed.
Monty Python's Flying Circus was made for TV between 1969 and 1974 and generations of fans can recite lines and whole sketches. The team went on to make films including Monty Python And The Holy Grail (1975) and Monty Python's Life of Brian (1979).
Sixth Python Graham Chapman died of cancer in 1989 aged just 48, and nine years later the five remaining members appeared together on stage at the Aspen Comedy Festival in the US.
Palin refused to rule out a wider European tour, saying "I've been doing it for years".
Cleese said Palin "chickened out" of earlier plans to reunite and needed to be convinced about the plan.
Asked about ticket prices, Idle said prices would be low and "only £300 less than the Stones".
He also said the show would include material "we've never done live before".
Jones said Chapman would be missed but Idle said he would be there "on screen" and incorporated in the show.
Idle said: "We've told him we're going on and if there is a God he'll be turning up."
Cleese said he thought their famous dead parrot sketch would figure at some point, but ruled out a return of the Ministry of Silly Walks.
He said: "That's impossible now because I have an artificial knee and an artificial hip."
Asked if they would take the concert down under, Cleese said: "The only problem with Australia is there are planets closer than that."
"We'll be doing material we've never done live. There'll be quite a lot of that," said Idle, before pointing out that most people find new songs to be the low point of most concerts.
"We're hoping people will have forgotten so they'll appear new."
In typical madcap style, the quintet lined up behind the wrong name cards and they answered questions addressed to other members of the team. And the first question at the press conference came from a Spanish journalist.
"We didn't expect the Spanish inquisition," joked Palin.
Before announcing the location for the performance, host Davis poked fun at Fifa, joking that show would take place in Qatar.