Tim Allen and Tom Hanks on returning for 'Toy Story 5'

Tim Allen and Tom Hanks are back, reprising their roles as Buzz Lightyear and Woody for Pixar's highly-anticipated "Toy Story 5."

In a new interview that aired Monday on "Good Morning America," Allen said he was hesitant at first, about picking back up as space ranger toy Buzz after "Toy Story 4" wrapped up.

"I loved ['Toy Story 3']. ['Toy Story 4'] was, it was just so intense," Allen said.

But ultimately, the two veteran actors signed on to return, continuing the three-decade legacy of the "Toy Story" franchise.

Fans might be surprised to learn Allen and Hanks record their lines and sound effects separately instead of together.

"When I'm doing some stuff, I will close my eyes," Hanks said of his process. "Because otherwise I'm locked into this dark room with a microphone. If I close my eyes I see [Woody], I see Jessie, I see everybody else."

Alongside Hanks and Allen are returning castmates like Joan Cusack, who plays cowgirl Jessie, to face off against electronic tablet Lilypad, voiced by Greta Lee, who threatens to pull 8-year-old Bonnie's attention away from her toy pals.

In addition to the new storyline, Allen and Hanks were surprised to learn about the new featured song in "Toy Story 5" -- Taylor Swift's new original track "I Knew It, I Knew You."

"We found out about this 36 hours ago," said Hanks. "This was dead, total secret. They literally pulled us into a room."

"It was so serious," Allen added. "Door shut, everybody out. Serious people."

Hanks said he hopes the new song will resonate with fans widely.

"I hope the word of it spreads very quickly across the country. I hope the happiness it brings is quite swift in its understanding of how important it is. It's as though it's tailor-made," he said.

"Toy Story 5" comes out in theaters on Friday, June 19.  

The Walt Disney Co. is the parent company of ABC News and Pixar.