Movie news: Just in!

Will Ferrell and Sacha Baron Cohen will team up for a new comedy based on Sherlock Holmes characters, ET has learned.

The movie will reunite the former on-screen rivals, who faced off in 'Talladega Nights: The Ballad of Ricky Bobby.'

The Sherlock Holmes characters, created by Sir Arthur Conan Doyle will "inspire the screenplay, which will use the works as a starting point for the comedy," according to a statement from Columbia Pictures.

Sacha will take on the role of the famous master detective, with Will as Dr. Watson, his less intuitive crime-solving partner.