The 2002 film was written by Sheridan and his daughters Naomi Sheridan and Kirsten Sheridan, reported Deadline.
The three Sheridans received both Oscar and Golden Globe nominations for the semi-autobiographical screenplay, which told the story of an immigrant Irish family's struggle to start a new life in New York City.
The trio have now signed up to develop the series, set to be produced by Fox TV Studios, which is expected to further explore the family's New York experiences.
'In America' starred Paddy Considine and Samantha Morton as Johnny and Sarah Sullivan, a couple who moved to America with their two daughters Christy and Ariel.
The plot saw Johnny struggle with his emotions following the death of his son Frankie. This was based on Jim's brother Frankie, who died at the age of 10, and to whom the film was dedicated.