Will Smith has signed on to star an updated version of the late '60s TV series "It Takes a Thief," Variety reports.

Smith will play the debonair thief Alexander Mundy, originally brought to life by Robert Wagner in the show that ran from 1968-1970. Mundy is blackmailed into stealing for his country as an agent of the CIA.

The project has been on the backburner for the last ten years, where it was originally figured to be a project for Michael Douglas.

However, with the acquisition of "Four Brothers" screenwriters David Elliot and Paul Lovett, new life has been breathed into the film.

Will Smith last appeared on screen with Eva Mendes in last year's "Hitch."

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