After Titanic: James Cameron's Voyage, Past And Present

NEW YORK (CBSNewYork) -- When you've directed the top 2 box office hits of all time, you get to do what you want in Hollywood. Just ask Titanic and Avatar director, James Cameron.

So what did the famed movie guru decide to do? Revisit his 15-year-old blockbuster hit and sink the ship again - in 3-D.

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TV 10-55's John Elliott sat down with Mr. Cameron to talk about the release of the film in 3-D on Blu-Ray.

"We wanted to do it right, as if I had actually shot it in 3-D originally," Cameron said. "That's a high bar to hit. Most conversions from 2-D to 3-D don't reach that."

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"If we're doing this," Cameron said, "We're doing it right."

Cameron's films have earned more than $6 billion at the box office, and he's still pushing the envelope.

He touted 3-D years ago as Hollywood's saving grace. Then he put his money where is mouth was by making Avatar - which turned out to be the biggest hit of all time.

And now? He's working on 2 sequels to the film - and says the best is yet to come.

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"I've made a decision to work in the Avatar universe for, I don't know, let's call it 10 years, and do Avatar films," he said. "You've seen one tenth of what I've got in my head."

And still, he's proud he helped revive interest in one of the great human tragedies by making Titanic.

"I feel called to the ocean, to the deep ocean," Cameron said. "I've spent a lot of time diving and exploring."

He recently visited Belfast, Ireland, the birthplace of Titanic. He opened a new exhibit at the world's largest Titanic museum.

Will you buy Titanic in 3-D? Watch our full interview with James Cameron in the video below.