The 51-year-old actor was attached to the project in the 1990s under the directorship of Tim Burton.
The pair even got as far as testing footage of Cage wearing one of the tightest Spandex suits you've ever seen, shown recently in the documentary "The Death of Superman Lives: What Happened?", reported Digital Spy.
Cage said: "I had great belief in that movie and in what Tim Burton's vision was going to be for that movie. I would've loved to have seen it, but I feel that in many ways, it was sort of a win/win because of the power of the imagination.
Speaking on working with Burton, Cage added: "Tim is the total artist, a pure artist with a real vision, and I've often said that he can create worlds and that's exactly what he does.
"I saw some of the tests of different characters and costumes for Krypton and they were just so surreal and so magical and beautiful. He's definitely one of my favourite filmmakers because of his originality, because of his vision."