Cinematical are reporting that, in an interview with Howard Stern, Jon Favreau said he had not yet be confirmed for the Iron man sequel:

“They haven’t offered me anything yet. They’re all talking — they want to do it, they even announced a date.”

Whilst Slash Film have run an article concerning Tony Stark himself, Robert Downey Jr. It is thought that most cast are contracted for up to two sequels, however when Entertainment weekly quizzed Downey Jr. concerning Iron man 2, he replied,

“I really don’t know. What I’m on board for right now is the ride home. I don’t want to start talking out of my league, because that would have certainly been my inclination in the past. I kind of know how to keep my teeth together a little better than I used to.”

I wouldn’t be too disheartened, these are early days and sequel talks are only just beginning.