Lynette Rice
March 14, 2011 at 06:15 PM EDT

As is customary with just about every announcement from Gary Sanchez Productions —  the banner owned Will Ferrell, Adam McKay and Chris Henchy — a pretty genius announcement went out today regarding the pending feature film based on Adult Swim’s Tim and Eric Awesome Show, Great Job.

The film dubbed Tim and Eric’s Billion Dollar Movie that’ll mark the big screen debut of Tim Heidecker and Eric Wareheim has nabbed a U.S. distributor and a financier. Shooting began this month in Los Angeles and Palm Springs. “We were initially apprehensive of the unprecedented price tag of the film, but apparently we agreed to it after having a drink with Tim and Eric,” said financier Todd Wagner, the CEO of 2929 Prods, in a very tongue-in-cheek statement.  “Actually, it’s all a little bit fuzzy. Regardless, we now realize that it would be foolhardy not to participate in what is sure to be the grandest entertainment ever presented to mankind.” Added Ferrell, in a statement: “You can’t put a price on creative excellence and we didn’t. Maybe we should have, but we didn’t.”

Wagner, along with his business partner Mark Cuban, are expected to perform cameos in the film. There is no release date for the film which will be distributed by Magnolia Pictures.

Heidecker and Wareheim have produced five seasons of Tim and Eric for Adult Swim.

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