Angelina Jolie at Comic Con in San Diego, 2010. Photo credit: Gage Skidmore.

Could it be true? It appears so. James Cameron teaming up with Angelina Jolie for an all-new version based on the life of Cleopatra – and in 3D no less.

The last time the Egyptian queen was given the once over, it was back in ‘63 and it starred Richard Burton and Elizabeth Taylor. In addition to it almost bankrupting 20th Century Fox, it also kicked of a scandalous affair between the two lead stars – who later married not once, but twice - only to divorce again.

Cameron’s project will reportedly be taken from the book, Cleopatra: A Life, by Stacy Shiff, which apparently shows a different side to the queen. The Avatar director is also reportedly in talks with Sony Pictures Entertainment to fund the flick.

Everyone seems to be in agreement, from Cameron to the book publisher, that Jolie is a perfect fit for the role.  And there is little chance of this Cleopatra not paying off – let’s face it, Cameron always has his way with moviegoers.

Besides, who wouldn’t want to watch Jolie take that last gasp from the asp in 3D?