The project, from HBO alum Michael Ellenberg, is poised to hit the marketplace in the coming weeks and be shopped to premium cable networks and streaming services, according to The Hollywood Reporter.
Jay Carson (House of Cards) is attached to pen the script.
Witherspoon will also executive produce alongside her Hello Sunshine banner topper Lauren Levy Neustadter. Aniston also will be credited as an executive producer.
Aniston and Witherspoon, who memorably guest starred as the former's younger sister on "Friends", have remained friends over the years.