Actors Jennifer Connelly and Keanu Reeves have reportedly signed to star in the sci-fi remake of “The Day the Earth Stood Still,” for 20th Century Fox.

Variety reports that both actors have signed to play in the movie, while Kathy Bates is currently negotiating for a starring role. Scott Derrickson will reportedly direct the pic, his first cinematic project after 2005’s “The Exorcism of Emily Rose.”

Ryne Douglas Pearson wrote the screenplay, while David Scarpa penned a recent draft, per the trade paper.

Connelly and Reeves will find themselves in a time when aliens have landed on Earth with bellicose intentions: “Live in peace or be destroyed,” according to Variety.

Connelly will portray Helen Benson, the role Patricia Neal played in the 1951 original, which was shot in black and white. The film, directed by multiple Academy Award winner Robert Wise (“West Side Story,” “The Sound of Music”) starred Michael Rennie, Patricia Neal, and Sam Jaffe.

Filming for the remake reportedly starts in December in Vancouver. Erwin Stoff is producing alongside Derrickson’s partner Paul Boardman, who also produced “The Exorcism of Emily Rose.”

Connelly, 36, is currently filming the ensemble comedy “He’s Just Not That Into You” for New Line, alongside Drew Barrymore, Jennifer Aniston, Ben Affleck and Scarlett Johansson.

The actress’s recent screen credits include 2006’s “Little Children” and the Academy Award nominated “Blood Diamond,” as well as “Reservation Road,” released in late October. The drama also stars Joaquin Phoenix, Mark Ruffalo and Elle Fanning (Dakota Fanning’s younger sister).

Reeves, 43, has taken somewhat of a break from movie-making over the past year. After appearing in 2005’s “Constantine” and 2006’s “The Lake House” and “A Scanner Darkly,” there were rumors that he was attached to star in “The Night Watchman.”

“The Day the Earth Stood Still” is slated for a December 2009 release.