It seems like it could be happening... Jack Black & Kyle Gass are definitely thinking about it.
They did a new interview w/ SiriusXM revealing that they're working on the follow-up to their 2018 album "Post-Apocalypto", and during the interview Jack Black & Kyle Gass both hinted that there might also be a follow-up to Jack Black's 2003 movie "The School Of Rock." Kyle Gass said it could be a hybrid of the two films calling to "A School of D.""Pick Of Destiny" grossed eight-point-two million at the box office and received mixed critical reviews.
In the interview, Jack Black said "I am playing music with Kyle Gass. We're still touring and we got a very big project coming up that I can't really tell you anything about" and that the band has "a concept album coming down the pike."
They also spoke just a little bit about both a sequel to The Pick Of Destiny and to Black's 2003 movie The School Of Rock. "Yup. Both of them. Breaking news. We're thinking about doing both of those," said Black. Gass then joked "it's a hybrid – a school of D."