Oscar nominee Michael Shannon joining Kristen Stewart in 'Runaways'?

Michael Shannon is doing well off the bounce of an Academy Award nomination.

Credit: AP Images/Matt Sayles

Kristen Stewart will have a short window to shoot the indie biopic "Runaways" before moving on to "The Twilight Saga: Eclipse" this fall and the filmmakers behind the indie are scrambling to cast as many of her co-stars as they can.  Word has it, according to The Hollywood Reporter specifically, that Michael Shannon is in negotiations to play one of the leading roles in the flick.

" Runaways" chronicles the short, but fiery reign of the first all-female band of the rock era.  Stewart is on board to play Joan Jett (who later had a successful career with The Blackhearts) and Dakota Fanning is set to play Cherie Curry.  It's unclear what role Shannon will play exactly and the trade reports he's "mulling" other offers so scheduling will play a key in determining if he officially signs on (a great negotiating tactic by his agent to make public by the way).

Shannon received an Oscar nomination for best supporting actor for his role in Sam Mendes' "Revolutionary Road."  He's currently filming the Warner Bros. action flick "Jonah Hex" and has joined the American remake of the French thriller "13 (Tzameti)."

Stewart and Fanning both recently wrapped production on "The Twilight Saga: New Moon."