The Focus Features and Working Title project also stars Saoirse Ronan, reported Variety.
Directed by Josie Rourke, the film is based on the true story of Mary Stuart's attempt to overthrow her cousin Elizabeth I, Queen of England, only to find herself condemned to years of imprisonment before facing execution.
"Mary Queen of Scots" has yet to be greenlit, but according to the sources things are headed in the right direction. If greenlit, the film would likely go sometime later this year.