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Rex Features
The pair first worked together on 1993 film Rudy and have since co-starred in Swingers, Made, The Break-Up and the upcoming Four Christmases.
Jason Bateman and Faizon Love will also appear in the movie, which revolves around four couples who take part in couples therapy at a tropical island resort.
Peter Billinsgsley will direct from a script by Favreau. Vaughn, who came up with the idea for the film, will serve as producer with Scott Stuber.
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