Entertainment Weekly reports that the two will star in a new action comedy, titled Most Wanted.
The movie, which has the same screenwriter as The Proposal was purchased by Universal Pictures on Friday.
Most Wanted is about a criminal suspect (Bullock) being escorted to court by an FBI agent (Reynolds). Both are ambushed on the way and are forced to go on the run.
Ryan Reynolds will executive produce with his partner Jonathan Komack Martin.
Sandra made her first public appearance over the weekend after the cheating scandal and it seems like she is ready to get back in the game. She has multiple projects in the works including the biggest project of them all...a new baby!