Gwyneth, Reese, Cameron and Beyonce in One Hit Wonders

Glee creator Ryan Murphy has signed Gwyneth Paltrow (Iron Man), Reese Witherspoon (This Means War), Cameron Diaz (Bad Teacher), and Beyonce (Dreamgirls) to his latest film One Hit Wonders, reports Deadline Hollywood.

The musical comedy focuses on three singers (Paltrow, Witherspoon, and Diaz) who each sang a hit song in the 1990s before their careers went downhill as they form a supergroup.

Also on board is Andy Samberg (SNL, Friends With Benefits), who may write music for the film with his partners from The Lonely Island, Jorma Taccone and Akiva Schaffer, who wrote the Saturday Night Live songs sung by Samberg and Justin Timberlake, Dick in a Box and Motherlover.

Murphy, who directed Eat Pray Love, will direct this film and co-write the screenplay with his Glee co-creators Brad Falchuk and Ian Brennan. Next Murphy will direct The Normal Heart with Julia Roberts and Emmy and Golden Globe winner Jim Parsons.

Paltrow will make her debut as a producer with One Hit Wonders along with Murphy. She will next be seen this spring in The Avengers, reprising her role from Iron Man as Pepper Potts.

Witherspoon will appear later this year in Mud with Matthew McConaughey (The Lincoln Lawyer) and Michael Shannon (Take Shelter).

Diaz will costar in What to Expect When You're Expecting with Jennifer Lopez, Elizabeth Banks (The Hunger Games) and Anna Kendrik (Twilight Saga) in May.