The pair have joined Leslie Mann, Jason Bateman, Zac Efron and Goldie Hawn in negotiations for the comedy, according to Variety.
The movie is based on Jonathan Tropper's novel, the film rights for which were acquired by Warner Bros in 2009.
The film centres around a dyfunctional family who are forced together by the death of their father.
Compelled into the Jewish traditional of 'sitting Shiva', the relatives are brought face-to-face with their grievances during seven days confined together in the family home.
Akerman will star in Shankman's new movie Rock of Ages, while Efron worked under the director on his 2007 Hairspray remake.
Sudeikis is due to reprise his role alongside Bateman in a follow-up to Horrible Bosses.
Rock of Ages is scheduled for release on June 15.
Watch a trailer for Rock of Ages below: