UPDATE: You can read Howard’s reaction to this casting change here.

When Iron Man 2 eventually begins production, one cast member will be missing from roll call: Terrence Howard.

As Jim Rhodes, Tony Stark’s best friend, Howard was looking at picking up more screen time in the franchise’s next installment. Unfortunately, several factors - including a financial disagreement - reportedly forced Marvel to look elsewhere. Now audiences will see Don Cheadle (Ocean’s Eleven) as the man who may one day become War Machine.

Even though Robert Downey Jr. and Gwyneth Paltrow are both expected to join Cheadle, director Jon Favreau is the only other confirmed return at this point. Meanwhile, very little is known about the script though it’s rumored the sequel will “go beyond high-tech villains.”

Iron Man 2 will blast into theaters on April 30, 2010.