Kiera Knightly and Daniel Day-Lewis in the remake of "My Fair Lady"

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Keira Knightley and Daniel Day-Lewis, two of the biggest names in British cinema, are being lined up to star in a film remake of the musical My Fair Lady.

The two stars are set to take on the roles of Eliza Doolittle and Henry Higgins, which were given notable treatments by Rex Harrison and Audrey Hepburn in the 1964 Oscar-winning classic.

Knightley the star of Atonement, Pride and Prejudice and the Pirates of the Caribbean films, has already signed up to the project and has begun singing lessons.

The producers of the film have put Day-Lewis, the double Oscar-winning star of There Will Be Blood and My Left Foot, at the top of their wish list of actors to play landed opposite her.

The film is being produced by Sir Cameron Mackintosh and Duncan Kenworthy, the producer of British blockbusters such as Notting Hill, Love Actually and Four Weddings and a Funeral. The duo hope to shoot the film on location in the original London settings of Covent Garden, Drury Lane and the Ascot racecourse, according to Daily Variety.

Sources close to the project say Kenworthy is keen to get Steven Spielberg, Martin Scorsese or Roger Michell, the director of Notting Hill and Venus, to direct the film. One source said: "Keira is already onboard and everyone is convinced that Day-Lewis would be perfect as Higgins." Is there a doubt?

Any My Fair Lady remake is likely to be controversial. The original, directed by George Cukor, won eight Oscars and in 2006 it was ranked the sixth-best movie musical ever.

Paris Hilton on the way to "Breakfast at Starbucks" in Beverly Hills. Kiera has landed the role so forget about it Paris!!!