Diablo Cody's 'Sweet Valley High': What We Know So Far

"Sweet Valley High School Musical"? Maybe!

MTV News' Josh Horowitz caught up with "Young Adult" scribe Diablo Cody at last night's Critics' Choice Movie Awards, where she spilled some major scoop on her in-the-works big-screen adaptation of the beloved Francine Pascal book series.

"There's original songs being written for it right now, which is the most exciting development," Diablo revealed. "They're amazing. They're being written by these Tony and Pulitzer Prize-winning songwriters from Broadway who are the best. Brian Yorkey and Tom Kitt, who wrote [the Broadway show] 'Next to Normal'; they're amazing."

Singing and dancing Wakefield twins?! Um, yes, please!

But despite this totally tubular (I'm practicing my retro lingo!) news, we still know very little about the highly anticipated project. So we asked ourselves, "What Would Elizabeth Do?" and brushed off our Oracle-worthy investigative journalism skills to uncover more about "Sweet Valley High." Here are the facts:

Playing the waiting game

We've been eagerly anticipating this project for a while now—since 2009, in fact—when Variety broke the news that Diablo was penning the script and co-producing. In early 2011, Diablo took to Twitter to let fans know that, yes, the script had been completed. So what's the hold up, guys? Let's get some twins on that casting couch! (Wait—does that sound pervy?)

There will be big bangs

Shortly after news broke that Elizabeth and Jessica would grace the big screen, Diablo reassured worried acolytes that this wouldn't be some "Gossip Girl"-ified re-imagining. "Frankie says relax: Sweet Valley High is set in the '80s. Don't feel like brokering some deal with T-Mobile to give Enid a Sidekick," she tweeted.

Diablo further elucidated the film's throwback vibe to IndieWire's Playlist, saying, "I want it to be wonderfully nostalgic. I want it to be to the '80s what 'American Graffiti' was to the [early] '60s. I want it to be looking back on a really cool time and enjoying yourself and I want it to be glamorous and colorful and bubblegum and a feast for the senses. That's my plan."

This isn't your teenage self's "Sweet Valley"

You've seen "Jennifer's Body," right? So we don't have to tell you that Diablo has a flare for the edgy and sometimes twisted? To wit, the scribe made no bones about the adaptation's grit: "We're hoping for the hard 'R' [rating]," she said. I guess we won't be taking a trip down memory lane with our nieces in tow...

Diablo will pull double duty

"Obviously I will be playing the twins. Old-fashioned '60s-style split screen," she told MTV News. We're pretty sure this one is factually inaccurate...

How excited are you for the "Sweet Valley High" movie? Do you want to see it made as a musical? Sound off in the comments and on Twitter!