Cate Blanchett and Michael Fassbender are set to star in Steven Soderbergh's upcoming movie Black Bag, according to The Hollywood Reporter.

The film is described as a spy thriller and Soderbergh will direct from a script by David Keopp. Both Soderbergh and Keopp have a film that will premiere at the Sundance Film Festival on Friday.

Details of the film are currently under wraps, as is the case with many of the director's projects. However, THR reported that it is set in the UK. While the exact plot is kept hush-hush, going by the title alone, which is a term used for covert or clandestine entries in order to get intelligence information. The term comes from the literal black bag that burglars used to store the tools of their trade such as drills, lockpicks and skeleton keys.

The film is currently looking for distribution and financing, and has hit the studios' and streamers' desks. The movie is scheduled to film in May, but other than Blanchett and Fassbender no other deals have been announced. Casey Silver and Greg Jacobs are set to produce.

Two-time Academy Award-winner Blanchett had previously worked with Soderbergh in 2006's The Good German, as well as Ocean's 8. While the director didn't helm the 2018 film, he did direct the rest of the Ocean's franchise.

Academy Award-nominee Fassbender worked with Soderbergh in 2011's Haywire. The film also starred Ewan McGregor and MMA fighter Gina Carano. Koepp and the director worked together on the Zoe Kravitz-led 2022 movie Kimi, which was filmed during the pandemic.

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Cate Blanchett has several projects currently in post-production. One of these is Rumours with Alicia Vikander, Fassbender's wife. The other is a feature film adaptation of the video game Borderlands, where the actress will play Lilith. She also has a TV mini-series coming up, Disclaimer.

Michael Fassbender's latest movie was 2023's Taika Waititi-directed Next Goal Wins. He also starred in the Netflix action movie The Killer. Currently in post-production is Kung Fury 2, an action comedy film also starring Arnold Schwarzenegger.

Steven Soderbergh's latest foray was as executive producer for the Max mini-series Full Circle starring Claire Danes and Timothy Olyphant.