Saturday Night Live's Jason Sudeikis is in talks to co-star in the R-rated film, which follows two men who are given a week free of obligations from their wives and attempt to spend the time as hedonistic bachelors.
The Farrellys will direct the movie next month based on a script by Peter Jones and Kevin Barnett. It is the pair's first collaboration with studio New Line since their hit debut Dumb And Dumber.
Bobby Farrelly recently revealed that Sean Penn had returned to the brothers' planned Three Stooges revival. The filmmakers are still hoping to make the movie with Penn, Jim Carrey and Benicio Del Toro as the comedy troupe.