Yes...this according to People magazine, an odd source for superhero news, so maybe take it with a grain of salt, but anyway - they say it will be back as an original series for Amazon.com.
The original series was probably a bit too "before its time," but with Guardians of the Galaxy set to become the #1 movie of the year, I'm not surprised funny superheroes are hot again, and this one's a pre-existing property with stars who haven't become super-expensive in the years since.
Are you ready for mysteries to abound again? Also, what is up with that oblong codpiece?
h/t Merrill Barr