Marion Cotillard ("Inception") and Joaquin Phoenix will team for the James Gray-directed drama "Low Life," according to Deadline.com.

Jeremy Renner ("The Hurt Locker," "The Town") is in talks to play the third lead.

Cotillard will play a poverty-stricken Polish immigrant who, on her voyage to the U.S., turns to prostitution in order to save her gravely ill sister. Phoenix will play a charming pimp who takes her under his wing in her new home of New York City.

Renner would play Phoenix's cousin, a magician who seduces Cotillard and may be able to get her out of the world of prostitution.

Greg Shapiro ("The Hurt Locker") is producing. Shooting will start next year.

Cotillard won an Oscar for portraying Edith Piaf in "La Vie en Rose," and starred opposite Johnny Depp in "Public Enemies." She's currently starring in Woody Allen's "Midnight in Paris," and will soon be seen in Christopher Nolan's third Batman film, "The Dark Knight Rises."

Renner will soon be seen in "The Avengers" and filling Matt Damon's shoes in the Tony Gilroy-directed "The Bourne Legacy."

Phoenix hasn't been seen in a film since his strange mockumentary "I'm Still Here," in which he claimed he was retiring from the acting business to focus on his rap career.

Phoenix's "retirement" recently ended after signing on for Paul Thomas Anderson's upcoming untitled religious drama, co-starring Philip Seymour Hoffman. Previously, Phoenix and Gray have collaborated on "The Yards," "We Own The Night" and "Two Lovers." The actor was nominated for Oscars for his work in "Gladiator" (2000) and "Walk the Line" (2005). Let's hope he's still got it.