Marc Guggenheim will pen the script for the drama, which is touted as a modern version of the story about how a suburban couple adjusts when one of them is revealed to be a spy, according to The Hollywood Reporter.
James Cameron - who wrote, directed and produced the original feature film - will serve as an exective producer on the project along with McG.
McG is also attached to direct the pilot.
"True Lies" also marks Cameron's largest small-screen scripted project to date. It's his second collaboration with Fox after the network adapted his "Terminator" franchise for the small screen nearly 10 years ago.
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