The film, originally developed as a potential star vehicle for Tom Cruise, but gender-swapped to accommodate Jolie, focuses on Evelyn Salt, a CIA veteran who suddenly comes under suspicion as a Russian sleeper agent.
In order to clear her name, she has to flee the authorities and try to stop the real traitor.
According to Variety, Schreiber is in talks to play Salt's CIA boss in the project, which will begin shooting next month in New York City with Phillip Noyce at the helm.
A Tony winner, Schreiber was most recently seen fighting Nazis in "Defiance." He has a series of big movies coming up, starting with "X-Men Origins: Wolverine" and continuing with "Repossession Mambo" and Ang Lee's "Taking Woodstock."
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