The stage production - which was first performed in Salford last August - is embarking on a six-month tour of the UK from February.
Corrie! was penned by the ITV1 serial's long-term scriptwriter Jonathan Harvey and condenses 50 years of births, deaths, marriages and other dramatic events into an action-packed two-hour show.
Faye, who played Weatherfield's Judy Mallett between 1995 and 1999, will make her debut in the narrator role on February 10 at the Cambridge Arts Theatre. She will also appear at The Lyceum Theatre in Sheffield between March 7 and March 12.
The actress said: "I'm so excited to be working on Jonathan Harvey's play of Coronation Street. I never thought I would walk on the cobbles again having pegged it in the back yard. It is a real honour to be part of the Coronation Street team again and I can't wait to get stuck in!"
Morley, best known for playing Reg Holdsworth, will take on the role of the narrator at the Liverpool Empire Theatre, Churchill Theatre Bromley, Theatre Royal Bath, New Alexandra Theatre Birmingham and the New Victoria Theatre Woking.
He said: "As we all know Coronation Street is 50 years old, which is the same age as myself! A vintage year. So join me to celebrate as this stunning production takes to the road. You will love it. I did, that's why I'm in it."
Meanwhile, it has also been confirmed that Harvey has updated the play's script to include "a unique take" on Weatherfield's recent tram crash disaster. Get the Inside Soap magazine on your iPhone or iPad