LONDON — Monty Python’s surviving members — Eric Idle, Michael Palin, John Cleese, Terry Gilliam and Terry Jones — revealed their new project at a press conference in London Thursday.

The troupe will perform on stage at the O2 Arena in London on July 1, 2014. The show will contain some of their greatest hits “with a modern, topical, Pythonesque twist.”

Cleese said: “People do really want to see the old hits, but we don’t want to do them in a predictable way. The main danger we have is that the audience know the scripts better than we do.”

“We quite enjoy getting together to be very silly,” Palin said.

Phil McIntyre will produce the show, which will include some new material. The audience can expect “comedy, pathos, music and a tiny piece of ancient sex,” Idle said.

He said it would be “a big show” with input from choreographer Arlene Phillips, and would be released on DVD. “We’ll be filming it and we’ll try to flog it later,” he said.

The Pythons outlined their plans under the banner “Monty Python Live (mostly)” with an image of a giant foot in a grave-yard, and the motto: “One down, five to go.” Graham Chapman, the sixth member of the comedy troupe, died in 1989.

Tickets to the live show will cost from £26.50 ($42.73) to £95 ($153), and will go on sale on Nov. 25. More information is available at montypythonlive.com. There are no plans to tour the show as yet.

Twenty-five camera crews and scores of reporters — from all around the world — attended the SRO press conference at London’s Playhouse Theater, which was hosted by thesp Warwick Davis.