gossipgirl_prequel_lilybass.jpgThis has to best freaking news I have read all day...

The creators of Gossip Girl have announced that a pilot for a new spinoff series set in the '80s is on its way.

The new show will be a prequel to the current Gossip Girl series, focussing on Serena's mother Lily (Kelly Rutherford, pictured) and her on-again-off-again relationship with Rufus (Matthew Settle), Dan's father. So far, the story behind their love affair has been kept a secret... until now.

Find out all the details after the jump...

Written by GG's executive producers, Josh Schwartz and Stephanie Savage, the spinoff will follow Lily who, after a dispute with her parents, is forced to move in with her sister, the black sheep of the family. Her transition from life at a luxury boarding school to living deep in the San Fernando Valley is the basis of the story. As well as a fling with musician Rufus, which results in a secret pregnancy.

According to sources, the decision to set the spinoff away from Manhattan was to avoid "diminishing" GG in any way.

"We didn't want to upset the chemistry of our cast - all of whom are crucial to the show," Savage said. "Nor did we want to dilute New York City as a character."

"We are inspired by the opportunity to tell overlapping stories and introduce characters that will appear in the past and the present - and hopefully enrich both shows," Schwartz added. "We love exploring fashion, pop culture, music and a heightened world that's just a little more fun than the one we actually live in. L.A. in the '80s totally fits the bill."

Gossip Girl meets the '80s, a.k.a. leg warmers, frizzy perms and cheesy power ballads? Hell yes!