Steven Spielberg and Tom Cruise are reported to be planning a film of HG Wells' novel The War of the Worlds.
Spielberg has lots of experience in the sci-fi field
Industry website Variety.com says work on the sci-fi epic, based on the 1898 novel, could begin in 2005.
Cruise, who also worked with Spielberg on Minority Report, is said to be co-producing and starring in the movie.
Orson Welles' 1938 radio adapation of the alien invasion novel caused a stir when listeners did not realise it was a work of fiction.
David Koepp, who wrote Cruise's action film Mission Impossible and penned the screenplay for Spider-Man, is expected to work on the script, says Variety.
Wells died in 1946
The War of the Worlds has been made into a film once before, in 1953.
The adaptation, directed by Byron Haskin, starred Gene Barry and British-born Les Tremayne, who was more well-known for his US radio career in the 1930s and 1940s.
Spielberg is currently finishing work on romantic drama The Terminal, with Catherine Zeta Jones and Tom Hanks.
Cruise, who last appeared on the big screen in war epic The Last Samurai, is due to start filming the third Mission Impossible movie shortly.