Multiline cell magics with %% prefix fail

[Najsztub]

Environment data

• VS Code version: 1.30.2
• Extension version (available under the Extensions sidebar): 2018.12.1
• OS and version: Linux x64 4.20.1-1-MANJARO
• Python version: 3.7.12
• Type of virtual environment used: virtualenv

Expected behaviour

I can normally execute single line % magic commands in the Python Interactive window.
I would like to do the same using cell magic with %% prefix in my cell.

Actual behaviour

In VSCode I get a SyntaxError.

Steps to reproduce:

Try to execute a cell with %% magic:

#%%
%%timeit 
L = [n ** 2 for n in range(100)]