Rejoice! It's time for Paul Thomas Anderson and Philip Seymour Hoffman to work together again. After Sydney, Boogie Nights, Magnolia, and Punch Drunk Love, Variety reports that the two are teaming up for a new feature about a man who creates his own religion. But don't celebrate too much -- this news is still in the early stages. Anderson is said to be planning to submit a finished script to Universal, who will then decide whether or not they will greenlight it (um, yes please). AND, the trade couldn't get comment from the studio, or either man's reps.

But here's what we do know. Should this go into production, there will be a $35 million price tag with Hoffman finally getting center stage playing "the Master" (as in master of ceremonies), a charismatic man who starts "a faith-based organization" in the 1950s. He teams up with a twentysomething drifter named Freddie who becomes his "lieutenant" until the kid finds himself questioning the faith he's gotten himself involved in.

For those of you foaming at the mouth at the thought of a Scientology/Mormon critique, hold on. Variety says: "The drama does not so much scrutinize self-started churches like Scientology or the Mormons, as much as it explores the need to believe in a higher power, the choice of which one to embrace and the point at which a belief system graduates into a religion." Nevertheless, it's about time PTA let PSH grab the full reigns of his vision. Let's hope the whole thing comes to fruition.