Elizabeth Banks is set to star a live-action The Magic School Bus movie.

The 52-year-old actress is in line to portray Ms. Frizzle in the film, after Legendary Entertainment acquired the rights from Universal.

The Magic School Bus movie has been six years in the making after Universal initially optioned it in 2020.

According to Variety, Rob Letterman - who helmed 2019 movie Detective Pikachu - is to write and direct the new motion picture.

Plot details for the film are yet to be revealed, but the movie will be based on The Magic School Bus book series, by Joanna Cole and Bruce Degen.

The educational tomes told of eccentric teacher Ms. Frizzle and her class going on school trips in their iconic yellow bus, which was able to magically transform into various modes of transport, including a spaceship and a submarine.

Actress and comedian Lily Tomlin previously voiced Ms. Frizzle in a popular animated series, titled The Magic School Bus, which aired on PBS from 1994 to 1997.

Another animated series, The Magic School Bus Rides Again - also based on the books - premiered on Netflix in 2017.

Tomlin reprised her role as Ms. Frizzle, and Barbie star Kate McKinnon portrayed the character's sister, Ms. Fiona Felicity Frizzle.

Guest stars included Catherine O'Hara - who passed away in January, aged 71 - Will Arnett, Sandra Oh, Martin Short, and Lin-Manuel Miranda.

The show spanned three seasons from 2017 to 2021.

While Banks is predominantly known as an actor, she also has several directing credits, and the star recently admitted her filmmaking experience has made her a more "patient" actress.

Banks - who has appeared in the Pitch Perfect and Hunger Games film franchises - told Variety: "I do think it makes you a more patient actor, because you sort of understand everything.

"I really enjoy days when I don't have to answer a lot of questions and I just get to take care of the character I'm there to play that day. I don't have to worry about the choreography and the camera angles.

"But I love being surprised by something. I love collaborating. I love problem-solving. I hope I get to do more of it. I think I will."