UPDATE: The creators of 'The Buried Life' have announced that they've signed a new deal with MTV Networks. This announcement follows an erroneous statement regarding the cancellation of their self-titled show, which ran for two seasons on the network.

This new deal is being considered a developmental deal, where the group can create new content, reformat their show and it will also offer a platform for them to create a pilot for a new series.

The four members of 'The Buried Life' share this statement: "[We] grew up dreaming of making television and movies and we're excited for what's to come with MTV. We're doing everything we can to learn the ins and outs of the industry and have many people to thank for giving us the opportunity to do this day in day out, including our fans. We want to continue to grow with our audience and inject in the industry the same dose of genuine compassion that guys like Paul Newman, Steve McQueen and others before us did."

ORIGINAL ARTICLE: It's time to bid farewell to Penelope the big purple bus: MTV has cancelled 'The Buried Life.' The make-a-difference reality documentary series scored modest ratings for the network over two seasons, and 'Entertainment Weekly' reports that MTV "hopes to continue working with the team in another format." It's possible 'The Buried Life' could live on as a digital or online series.

Fresh-faced, optimistic, and totally earnest, the four twentysomethings who created and star on MTV's 'The Buried Life' have a lot of things going for them: Hunky, all-American good looks (although they're actually Canadian). More than half a million "friends" on Facebook. And a successful show on MTV which relies entirely on their personalities, on-camera chemistry, and real-deal authenticity.

Now in its second season, the show's premise is deceptively simple: The stars -- Dave Lingwood, Ben Nemtin, Duncan Penn, and his brother, Jonnie Penn -- ask each other (and thus, their viewers) 'what do you want to do before you die'?

The gang from 'The Buried Life' can check one more accomplishment off their bucket list: getting renewed.

Yes, according to the Hollywood Reporter, MTV will be bringing back 'The Buried Life,' which follows the adventures of a group of friends who travel the world attempting to complete a list of things to do before they die. The four friends announced the pickup during a recent appearance on 'The Oprah Winfrey Show,' which likely checks off yet another box for them as well.

Also receiving the gift of television life is 'The Sing-Off,' which according to the Hollywood Reporter has been renewed by NBC. The series, which debuted in December as a fill-in during the holiday hiatus, features a cappella groups competing for a recording contract; hosted by Nick Lachey, the show's eclectic judging panel includes Pussycat Dolls lead singer Nicole Scherzinger, Boyz II Men stalwart Shawn Stockman and indie hitmeister Ben Folds. The second season of 'The Sing-Off' will run for eight episodes.

The tagline says it all: "One question; Four guys; 100 things to do before you die."

Pals Ben, Dave, Jonnie and Duncan are the four guys who, seeking something meaningful in their lives, worked multiple jobs and approached scores of corporations for sponsorship, and then set off -- in their donated big purple bus, Penelope -- on a cross-country adventure where they would cross items off their bucket list and help others do the same.

The results of one of their list items -- specifically, "make a TV show" -- comes to fruition tonight, with the premiere of 'The Buried Life' on MTV (10PM ET). In the opener, the guys try to make their way into a Playboy Mansion party, while also trying to do something special for a class of Los Angeles grade schoolers.

We chatted with the fellas about the List, the coolest people they've met along the way and the poem that inspired them to embark on a journey that's inspiring others to get off their couches and pursue their own buried lives.

'The Buried Life' (10PM, MTV) series premiere
It's mid-January, and you're already wondering how you lost all that beginning-of-the-year ambition, right? This new reality series is the answer, as four Canadian dudes travel the country (in their trusty big purple bus, Penelope), tackling a list of 100 things they want to do before they die. Among the entries: lead a parade, ride a bull, be in a Hollywood movie, get on the cover of 'Rolling Stone,' pay off our parents' mortgages, be in a boxing match, play ball with Obama, host 'Saturday Night Live,' pay for someone's groceries, star a television show (check!) and, in the series opener, camp at the Playboy mansion. But the show, and the real-life project that began in 2006, isn't just about the fun, endearing guys' personal adventures; for every item they cross off their own list, they've vowed to help a stranger cross an item off their list, which, in the premiere, leads to a very welcome surprise for a very deserving group of California elementary school students. We'll 'fess up: the whole concept gives us a case of the warm fuzzies, and, more importantly, makes us want to get off the couch and do something.