the creators of avatar say that there may be a book 4! they have ideas already, but there are only 2 things they know for sure. 1) it wont be book 4: air. the other 3 books were named after the elements he had to learn, and now that he has mastered all 4, it wont be named after air, and 2) they are going to wait until the movie is done to start thinking of big twists and stuff like that (so it will be a long time before it airs. i am guessing 1 1/2 years - 2 1/2 years. =P ).

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And about the movie... it is about book 1. i think it will be interesting to see how it turns out (imagine how hard it'd be to do special effects like bending!).