Sources have confirmed the two have agreed to team up on the project, which would, if and when it got made, be the first time the two have shared the screen since 2005's Mr. and Mrs. Smith.
No information is being given on the project, although some insiders speculate it could be a relationship drama that Jolie wrote several years ago. That project centered on a couple with issues who take a vacation in a last-ditch effort to save their marriage.
It is not known if there is a director on board or if Jolie would direct it. (Jolie is in post right now Unbroken, the true World War II tale of Lou Zamperini that she directed for Universal) It is also not known who is producing.
The couple is known for having a rule where they don't work on movies at the same time so one of them can remain with their brood. Having the duo together on a movie would be a nice way to bypass that tenet according to the Hollywood Reporter.
The couple have had their ups and downs but now it would seem they are better than ever. To take on a project together of this magnitude they must be in a very happy place in their lives and relationship. This project if successful could be one of just many they develop and do together. Personally cannot wait to see the results of this collaboration.