Matthew McConaughey too expensive for Magic Mike XXL

Los Angeles - Matthew McConaughey may not appear in Magic Mike XXL because he's too expensive.

The 44-year-old actor played ageing male stripper Dallas in the 2012 movie but following a career resurgence, including an Oscar win earlier this year for his role in Dallas Buyers Club, producers may no longer be able to afford his services, his co-star has claimed.

Magic Mike star Gabriel Iglesias, who played Tobias in the movie, told DishNation.com: "Word has it that Matt's probably not gonna be involved, because he's worth a lot of money now - that whole Oscar thing."

Iglesias went on to confirm he would be back for the sequel, which is being spearheaded by actor-and-producer Channing Tatum.

The original movie is based on Channing's own experiences as a male stripper in Florida before he became a Hollywood star.

Hunky co-star Joe Manganiello recently confirmed the sequel will begin shooting later this year.

He said: "Yeah, it's gonna happen this fall. I think they're going to announce it soon. It's crazy. I didn't think that would be my first franchise. I never thought that would ever be the direction of my career.

"But that said, it's just proof that I don't know best, all the time. It was the most fun I've ever had, and I can't wait to get back in and mix it up with those guys."

It's not yet known whether co-stars Alex Pettyfer and Matt Bomer will return.

The sequel, due for release in July 2015, will be directed by the original's first assistant director, Greg Jacobs, after director Steven Soderbergh opted against returning.