By Emily Blake
Updated November 05, 2014 at 12:00 PM EST
Credit: Axelle/FilmMagic; Stephen Lovekin/Getty Images

Kevin Spacey is returning to the White House, and he’s taking Michael Shannon with him. The House of Cards actor will star as President Nixon opposite Shannon’s Elvis Presley in Elvis & Nixon.

The film, directed by Hateship, Loveship helmer Liza Johnson, recreates the historic meeting between the two on Dec. 21, 1970, when the music legend showed up to the White House and requested a meeting with the POTUS to request to be sworn in as an undercover Federal Agen at large.

Prescience is financing, while Bloom will present the film to foreign buyers at AFM. Dallas Buyers Club duo Cassian Elwes and Holly Wiersma are producing. Prescience’s Tim Smith and Paul Brett are executive producing alongside Byron Wetzel. Cary Elwes and Hanala and Joey Sagal will write the screenplay.

“After the enormous success of The Butler, I have a deep affection for films set in the White House as does the public,” Cassian Elwes said in a statement to EW. “To work with Shannon and Spacey on this movie at the height of their careers is a dream come true.”