The movie will tell the story of a charming but obese boy who leaves his fiancée on their wedding day, to finally realize, several years later, that he loved her. To win her heart back, he will have to swim the seven seas while trying to convince her that her rich and handsome new fiancé his not someone for her.
The shooting of the movie should start in Great Britain next month. Pegg and Schwimmer have once played together in the black comedy Big Nothing.
Pegg, who has recently played in Mission Impossible III, will soon appear in Hot Fuzz, a new project by the team who gave us Shaun of the Dead.