The two former Oscar winners are set to appear in their first film together, which starts production this fall.  The famed TV director John Wells (Shameless, ER, The West Wing) is set to direct the new movie.

Streep and Roberts have long been in the talks of starring in the film adaptation of August: Osage County, in which they would play a mother-daughter role.  Entertainment Weekly reported this morning that the Weinstein Company has officially confirmed both of their roles in the upcoming film.

Streep and Roberts will play mother and daughter in the film, taking on the roles of pill-popping matriarch Violet and complicated, headstrong daughter Barbara, respectively. “After seeing Meryl Streep’s mesmerizing portrayal as Margaret Thatcher in The Iron Lady, it has me even more excited and proud to co-star with her,” Roberts said in a statement.

When the three-act August: Osage County opened on Broadway in 2007, the Midwestern family drama was heralded as a one of the greatest American plays thanks to its crackling dialogue and tour de force performances (Deanna Dunagan won a Tony as Violet and Amy Morton was nominated as Barbara).

“I’m delighted and feel very privileged to have the opportunity to direct Meryl and Julia in this magnificent piece written by Tracy Letts,” said Wells, adding, “Meryl’s extraordinary body of work made her the only conceivable choice to play Violet. Coupled with Julia’s effortless mastery of every role she undertakes and her fearlessness as an actress, I’m confident this first ever collaboration with Meryl and Julia will produce an exciting and moving film.”

Have you seen August: Osage County on Broadway? Based upon the great reviews Broadway received, do you think the film will continue the high appraisal?  What do you think about Streep and Roberts appearing in their first film together? It’s about time!