The Hobbit Movie - Elijah Wood to return?

Exciting news for Lord of the Rings fans:

“I haven’t spoken to him directly (Peter Jackson) about it but I’ve e-mailed him, and as far as I know the two films that they’re doing, one will be ‘The Hobbit’ and another will take place between the 60 years that happened between ‘The Hobbit’ and ‘The Lord of the Rings” the soon to be again Frodo told MTV Movies.

Now, if you are like me you are saying to yourself, "Self, Frodo wasn't in The Hobbit...." Well, apparently, this bridge from the Hobbit to LOTR (if it happens) could feature Frodo in a small role. Perhaps a cameo where Frodo (and Sam?) will tell the story by reading from Bilbo's book? Otherwise he'd be too young for Wood to play him, non?