Hollywood's most famous couple Brad Pitt and Angelina Jolie are reuniting on the big screen for the first time since 2005's Mr. And Mrs. Smith, this time in a "character-driven drama" By the Sea.

Universal Pictures has acquired worldwide rights to the film, which Jolie penned and will direct, while Pitt will produce under his company Plan B Entertainment, which has churned out movies like 12 Years A Slave and HBO's The Normal Heart.

"I am very happy to continue my relationship with Donna [Universal Pictures chairman Donna Langley] and the entire Universal team as I finish Unbroken and begin work on By the Sea," Jolie said in a statement. "They have created a very special place for storytellers, and I look forward to the continued passion and support they have provided to me as a filmmaker."

Langley also had good things to say about the Tomb Raider star. "Angelina continues to showcase her extraordinary storytelling abilities in front of and behind the camera and we are thrilled to extend our relationship with her on By the Sea," she said. "Angelina and Brad represent two of Hollywood's brightest talents and we are excited to be a part of their collaboration on this powerful piece."

News of the movie, an experimental, independent type of film broke out a couple of months ago when the Maleficent star said that she and fiancé Pitt had "an idea" for a movie they were looking to do together.

"I wrote something a few years ago for Brad and me," she said last May. "Just for fun. Just an independent little art piece."

Now that movie will finally come to life. Although little details have been revealed about the film's plot, which is said to focus on a couple's relationship, the mother of six reveals that it will be nothing like the action-packed movie they starred in eight years ago. "It's not a big movie, not an action movie," Jolie told Extra two months ago. "It's the kind of movie we both love but aren't often cast in. It's a very experimental, independent type of film where we get to just be actors together and be really raw and open to try things."

By the Sea will be Jolie's third time directing a film. She made her directorial debut with In the Land of Blood and Honey and is currently in post-production of Unbroken which will be released in December 2014.