Update: Bryan Singer is now producing the movie, and he introduced Matthew Vaughn as the new director of X-Men First Class.
Director Bryan Singer just announced that he has been hired by Warner Bros to helm the upcoming X-Men First Class movie:
Bryan Singer will direct the movie X-Men First Class
Bryan Singer has since told more to Variety, saying that Xavier and Magneto would be twenty-something:
Whether it's 'Batman,' 'Lord of the Rings' or 'Star Trek,' if the characters are good, you want to see them on their journey even if you know their destiny. I put myself in the fan's position, and I think this story is something I would want to see, and so will they."
Bryan Singer was director on the first two X-Men movie, so I guess he's qualified for the job! Let's hope that this movie sequel to the X-Men will somehow get fast-tracked, because I'm damn impatient to watch the movie X-Men Origins First Class!