Damon Bullis, set your calendar and cancel work, Naughty Bear is back! 505 Games and Behaviour Interactive have announced Naughty Bear Panic in Paradise for the PSN and XBLA.

Naughty Bear has once again been left out of the activities in Perfect Island. This time, the bears set off for a luxury vacation in paradise, leaving Naughty Bear behind. When will they learn? It’s Naughty’s job to make sure they pay, one by one.

With completely over-hauled combat mechanics, a new leveling up system, equipment customization, and over thirty new missions, players have everything they need to unleash their inner-naughty.

“Following the success of our first outing with Naughty Bear, we really wanted to push the limits and give players a lot more freedom to be as naughty as they can and help Naughty Bear get revenge on the other bears who have been so mean to him” said Victoria Reeve, senior global brand manager at 505 Games.

David Osborne, executive creative director at Behaviour Interactive says, “With Naughty Bear Panic in Paradise, we’re turning the naughty dial all the way up to 11!”

There is a lot of excitement around the industry about the latest addition to the Naughty Bear franchise. The game is set to release in Fall 2012.

For all the latest on anything Naughty Bear check back here at PS Nation.