Cheech Marin told AP Radio that he and Tommy Chong "looked at each other going, 'If we're ever going to do something it has to be now because you're not getting any younger and neither am I.'"
The duo who gained fame for their marijuana humor tossed around some ideas and figured a comedy tour would be "the most fun" and "the least hassle," the 62-year-old Marin said.
Marin and Chong, who broke up amid creative differences, have tried to reunite before, but have always fought too much. Marin laughed and said: "It takes about 3 minutes for that to happen. There's this veiled hatred." But he added: "We've kind of resolved that."
"We've gotten to the age where we don't feel like fighting anymore because the end is a lot closer than the beginning," he said.
Marin said he thinks pot humor can be as funny today as it was back in the '70s.
"I think it's time for a revival of dope jokes. It's a much bigger audience now, it's much more widespread and institutionalized," he said in an interview earlier this month.
Details of the "Hey, What's That Smell?" tour were to be announced Wednesday at a news conference in West Hollywood, California, according to concert promoter Live Nation.
While Chong has continued to do standup, Marin has concentrated on films and TV appearances.
"I guess Cheech forgot how tough standup is," Chong joked last month after Marin said they were considering reuniting.
"But he's got the incentive and the enthusiasm and he's ready," he said of his former partner. "My boy is back."