According to Variety, Howard, 37, will be starring in the film which will bring the Marvel Comics hero to the silver screen.
In the film, Rhodes, a military pilot, develops a robotic suit of armor for his friend, Stark. Later, Rhodes develops his own suit, and turns from friend to foe.
John Favreau will direct the project for Marvel Studios. Filming for Iron Man is set to begin in February, 2007 in Los Angeles. The film is expected to be released in May, 2008.