Lindsay Lohan has another new film lined up. It’s called "Ye Olde Times," starring Jack Black, Matthew Lillard, David Arquette, Ann-Margret and Orlando Jones.

It’s described on as being a mix of "Shakespeare in Love" and "Meatballs," the silly tale of rival theater troops vying to be the top act at a Renaissance Faire. The movie’s in pre-pro right now but is set to shoot in Shreveport, La.

Lindsay_lohan_ann_margret_jpgBut wait! Talk about burying the lede: LiLo sharing the screen with her look-alike idol, Ann-Margret?

Will they play mother and daughter? Or sisters? Either way, this could actually be hot. And funny. Or both.

Lindsay also tells People that she’s back in the studio recording with Motown, working on her new dance, hip-hop and R&B album.

Other sources say that Lindsay is getting a lot of help from folks like Timbaland and Pharrell. Word is that even Snoop Dogg is among her collaborators. Hey, maybe those guys can help Britney Spears out when they’re done rescuing LiLo’s recording career.

Photos: Top, Lindsay, right, bears a striking resemblance to a young Ann-Margret. Lower, the actresses met at the Young Hollywood Awards back in 2005. Great casting, guys!

Posted by:Elizabeth Snead