On Wednesday, it was reported Penelope Cruz and German actress Diane Kruger are set to star in the next film by Spanish director Isabel Coixet, a romantic drama entitled "This Man, This Woman."

Deadline reported the film's script was written by Frederic Raphael ("Eyes Wide Shut") and tells the story of an estranged man, Matt Heller, and a woman, Martha Parks (Cruz), who meet by chance on a plane and reminisce about the their turbulent past romantic relationship that was broken by his affair with a talk show host named Kirsty Sachs (Kruger).

An actor has not yet been selected to play Heller.

"It feels like a minor miracle to finally bring this passion of mine to the screen and to put together this dream cast including the superbly talented Penelope Cruz and Diane Kruger, who are the perfect actresses to bring these multi-layered characters to life," said producer Mike Lobell.

Cruz, 40, worked with Coixet in the 2008 film "Elegy." In the film, Cruz played Consuela Castillo, a well-mannered student who awakens a sense of sexual possessiveness in her teacher David Kepesh, played by British actor Ben Kingsley. The film received generally favorable reviews and earned more than $14 million.

The last time Cruz graced the big screen was in the 2013 film "The Counselor" alongside her husband, Spanish actor Javier Bardem, 45, Cameron Diaz, Brad Pitt, Rosie Perez, Edgar Ramirez, Bruno Ganz, and others. She played the fiancée of a Texas lawyer whose financial struggles force him to become involved in an ill-advised drug deal that places them both in mortal danger.

When Cruz is not starring in films, she has modeled for Ralph Lauren, L'Oréal and Mango. She and younger sister Mónica Cruz have designed clothing for Mango as well.

Cruz has also volunteered for charities in Nepal, Uganda and India. She reportedly donated her salary from her 1999 movie "The Hi-Lo Country" to help fund Mother Theresa's children's sanctuary in Calcutta after spending a week there as a volunteer.

The Spanish actress also enjoys spending time with Bardem and their son Leonardo, 4, and daughter Luna, 2.