The 71-year-old star joked about the financial benefits of the British comedians' comeback after 30 years.
He told the BBC News: "It's real. We're getting together and putting on a show. I'm quite excited about it. I hope it makes us a lot of money. I hope to be able to pay off my mortgage!"
The announcement comes after another member of the team, Eric Idle, tipped off fans about their "big forthcoming news".
He tweeted on Monday (18.11.13): "Only three days to go till the Python press conference. Make sure Python fans are alerted to the big forthcoming news event.
"Python meeting this morning. Can't wait. Press Conference Thursday will apparently be live on Sky News. I'll get you the online URL."
The pair will be joined by surviving Monty Python members John Cleese, 74, Terry Gilliam, 72,and Michael Palin, 70 when they reunite.
Monty Python were responsible for some of modern comedy's most surreal moments including the infamous Parrot Sketch - about a disgruntled customer trying to return a dead parrot to a pet shop owner - and the film 'Monty Python's Life of Brian', following the exploits of an ordinary man mistaken for a messiah in ancient times.
The cast also included the late Graham Chapman, who died in 1989 and after his death from spinal and throat cancer, Eric once quipped: "We would only do a reunion if Chapman came back from the dead. So we're negotiating with his agent."