The rock stars, Rick Parfitt and Francis Rossi, will star in the comedy-action project, taking place in Fiji.
Jon Lovitz and Craig Fairbrass also star in the comedy caper, which is written and directed by Stuart St Paul, who previously worked on Batman and Aliens.
New photos from the film show the pair crashing through a pane of glass, and emerging from the sea à la Daniel Craig in Hawaiian shirts.
Rossi said of the film: "The one thing Quo fans know is to expect the unexpected."
Parfitt added: "This is an amazing chance for us to do something new and we're all really excited."
The film will also contain a soundtrack of 12 classic Status Quo songs.
Watch the video for Status Quo's 'Rock 'n' Roll 'n' You' below: