Cate Blanchett - Cate Blanchett, Colin Firth Sign On For Barbra Streisand Movie

The couple collaborated on three books together, before marrying and subsequently divorcing a few years later. Firth will reportedly play the writer, with Blanchett his love interest. It will be the first time Streisand has stepped behind the camera in 16 years - she last directed 'The Mirror Has Two Faces' in 1996, though also directed 'Yentl', for which she won an Oscar, and 'The Prince of Tides'. Filming on the new movie is expected to get underway in January 2013, after Firth completes promotional duties on the crime thriller 'Gambit', with Cameron Diaz, and 'The Railway Man', with Nicole Kidman.

Blanchett - who won an Oscar for her role in The Aviator - also has a busy year ahead. Not only is she the full-time co-director at the Sydney Theatre Company, she is reprising her role as the elf queen in Peter Jackson's two part Lord of the Rings prequel 'The Hobbit'. The first movie hits cinemas later this year, with Blanchett likely to be promoting the movie throughout the fall.