Blanchett: Bruce Glikas/FilmMagic via Getty Images; Ball: Metro-Goldwyn-Mayer/Getty Images

Amazon Studios just acquired the Lucille Ball biopic, Lucy and Desi, starring two-time Oscar winner Cate Blanchett as the iconic I Love Lucy star. Oscar-winning screenwriter Aaron Sorkin is still in charge of the script as originally planned when news about Blanchett and Sorkin's roles first broke in 2015.

The hunt in still on to cast Desi Arnaz, who was Ball's onscreen and offscreen love interest, and I Love Lucy's Fred and Ethel characters, according to Deadline's exclusive about Amazon's film acquisition.

The couple's two children, Lucie Luckinbill and Desi Arnaz Jr., will help Sorkin give an accurate depiction of the famous duo's lives, which skyrocketed after they starred in the wildly successful I Love Lucy sitcom starting in 1951. The show won five Emmys during its six-year run.

Nominated for seven Oscars since 1998, Blanchett won her first Academy Award for playing another famous actress, with her portrayal of Katharine Hepburn in 2004's The Aviator earning her the Best Actress In a Supporting Role statuette. Blanchett's role as a New York City socialite in Blue Jasmine also earned an Oscar for Best Actress in 2013. She was also nominated for Elizabeth in 1998, Notes on a Scandal in 2006, Elizabeth: The Golden Age in 2007, I'm Not There in 2007, and Carol in 2015. 

Meanwhile, Sorkin won the Best Adapted Screenplay Oscar for 2010's The Social Network.

While we're talking about acting, watch Entourage's Adrian Grenier share his favorite acting tips that help him achieve maximum results: