"When you read a red-hot piece of material and not only do they want you for it already but Steven Spielberg wants you for it already -- that's like winning the Powerball," Hanks said. "That's a lottery win."
The dynamic duo are rekindling the magic from Saving Private Ryan for this film set against the backdrop of historical events.
In the dramatic thriller, Hanks stars as James Donovan, a Brooklyn lawyer who finds himself thrust into the center of the Cold War when the CIA sends him on the near-impossible task of negotiating the release of a captured American U-2 pilot.
"I think I just took everything that I've known in my friendship with Tom that served us so well on Saving Private Ryan," Spielberg said. "It's just been a breeze working with him."
Bridge of Spies, which also stars Alan Alda, Amy Ryan and Mark Rylance, opens October 16.