EXO-Ls around the globe have an awesome reason to get excited for July!

After weeks of speculation, SM Entertainment has confirmed the EXO members Chanyeol and Sehun will be debuting as the members of the newest subunit of the acclaimed boy group -- the first duo to come from the nine-piece act.

On June 5, a representative from the agency revealed the news to media outfits saying that the two members "are currently preparing to debut in a new unit." The release of their first album is slated next month.

Earlier this year, SM Entertainment has shared their plan to launch a brand-new subunit from the group known for the hits "Love Shot," "Tempo," and "Growl."

Rumors about Chanyeol and Sehun's newest project surfaced when they departed to Los Angeles to reportedly shoot a music video.

Eagle-eyed fans also noticed EXO's manager's hint about the upcoming unveiling of the duo. In an Instagram post uploaded on May 13, the manager shared a "Pikachu" movie advertisement with the caption stating: "It was a hectic schedule, but I'm looking forward to it. Anyway, Pikachu is So cute!"

The letters C and S, as emphasized in the post, were said to refer to Chanyeol and Sehun. The geo-location tag of the post also stated that the manager was in the California city.

The pair first teamed up for the SM Station-released single titled "We Young" in September last year.

The confirmation about the Chanyeol-Sehun subunit comes around two months since Chanyeol debuted as a solo artist. Back in April, the 26-year-old K-pop versatile charmed fans with the release of "SSFW" (Spring Summer Fall Winter).

In related EXO news, Korean financial service provider Eugene Investment & Securities predicted last month that SM Entertainment could possibly include an EXO comeback in their second quarter plans.

"EXO is also expected to make a comeback in the second quarter. With EXO's comeback, Red Velvet's album, and NCT's activities, SM Entertainment's performance will improve in the second quarter," the firm stated.