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Good news for Modern Family fans! After months of waiting for news of whether or not the long-running sitcom could possibly be back after the end of Season 8, we finally have an answer, and it's bigger than we could have possibly imagined. The family won't be splitting up any time soon. ABC has renewed the series for two seasons, meaning that Modern Family (which we totally predicted wouldn't be cancelled) will be back for Seasons 9 and 10.

The folks behind the scenes at ABC and 20th Century Fox have finally come to an agreement the will bring the show and at least some of the cast back for more. The six actors who make up the adults of the Modern Family family have signed on for big bumps in salary. Ed O'Neill, Julie Bowen, Ty Burrell, Jesse Tyler Ferguson, Eric Stonestreet, and Sofia Vergara will reportedly earn around $500,000 per episode, which is a significant raise from the $350,000 or so that they were making in Season 8. Deadline reports that negotiations are still underway for the actors who bring the younger generation of the family to the small screen.

The two-season renewal means 44 more episodes, so we'll get to see plenty more of the family's shenanigans as they deal with aging, raising their children, and putting up with each other. In the key 18-49 ratings demographic, Modern Family is the highest-rated comedy on ABC as well as the second highest-rated overall in Live+7 day measurements. It has been having some ratings problems recently, but the same can be said for many other TV comedies nowadays. We can bet that everybody at ABC is pretty happy that the deal finally went through and the Emmy-winning series will be back for another couple of years.

The renewal delays came from a number of disagreements over how much the series should cost. ABC and production studio Fox couldn't come to an agreement for a while about production costs, even without factoring the salaries of the actors. Modern Family is a ensemble series that really won't work without a lot of the members signed on board, so it's no wonder that it has taken so longer to finalize deals if so many parties involved were looking for changes. Fans of the series can just be glad that we'll get to see even more of the kids growing up and making us all feel painfully old.

Stay tuned to CinemaBlend for the latest in TV news, and don't forget to check out our summer TV premiere schedule to discover all your viewing options now and in the coming weeks. Be sure to drop by our rundowns for cable/streaming and broadcast TV renewals and cancellations as well. Our TV season finale schedule can give you all you need to know about your shows ending.