Oxygen has announced it has renewed Tori & Dean: Inn Love for a third season that will follow co-stars Tori Spelling and Dean McDermott as they bid adieu to their Chateau La Rue bed-and-breakfast in Fallbrook, CA and move back to Tinseltown.

Tori & Dean: Still Inn Love, which is scheduled to premiere this summer, will follow the couple as they say goodbye to the bed-and-breakfast that served as the backdrop for the show's first two seasons; buy a new home in Hollywood; pursue new business ventures; and search for a preschool for their son Liam.

"Over the last year, Tori and Dean have become one of America's favorite families and one of Oxygen's break out series." said Oxygen Media president Lauren Zalaznick. (Zalaznick, the president of Bravo and Bravo Media, also became Oxygen's president after Bravo's NBC Universal parent acquired Oxygen late last year.)

"They're a modern day Lucy and Ricky. They've got a great sense of humor about themselves, trying to juggle the demands of parenthood, marriage, their families and their work lives."

Spelling and McDermott leaving the bed-and-breakfast business shouldn't come as a total surprise.

Inn Love's Fall 2007 second-season finale found Spelling and McDermott at a "crossroads" about what to do with Chateau La Rue, as the couple was forced to decide whether they wanted to pick-up their lease-to-buy option and purchase the bed-and-breakfast or end the business venture and return to Los Angeles to focus on one of Spelling's other ventures -- like promoting her jewelry line and upcoming memoir.

Inn Love production company World of Wonder told Fallbrook's the North County Times last week that Spelling and McDermott would not be returning to the Southern California town.  The 4,500 square-foot inn is now for sale with an asking price of $2.3 million, the Times reported.

Patricia King -- who owns the property that houses the bed-and-breakfast -- said "the show" was leasing the inn for 90 days at a time and that the property was actually up for sale during filming.

"They were excellent tenants," King told the Times. "Mostly, I worked with the producers. I met Tori and worked with her, but my contacts were at World of Wonder productions, and they were excellent to work with."

Inn Love's eight-episode third season represents Oxygen's first renewal since NBC Universal acquired the cable network last November.  Last week, Zalaznick appointed former Bravo executive Jason Klarman as Oxygen's general manager, placing him in charge of day-to-day operations for the network.