"Million Dollar Hotel," the long-talked about film based upon a story idea from Bono of U2, finally appears to be heading into production.

German director Wim Wenders has agreed to helm the picture, which will star Milla Jovovich, Jeremy Davies and Oscar-winner Mel Gibson. U2 is expected to provide music for the "Hotel" soundtrack, according to "Variety.

The picture will tell the story of a couple (Jovovich and Davies) who get caught up in a murder investigation at the Hotel. Gibson has been cast in a role he knows well from his four "Lethal Weapon" movies -- that of a police detective -- and Bono may also be cast in a bit role in the film.

Bono has been kicking around the idea for the film for over 10 years, and was inspired after the band stayed at the actual hotel in Los Angeles. U2 even had a "Million Dollar Hotel" sign constructed for the set of its video for "Where the Streets Have No Name.

The band's relationship with Wenders (who filmed "Wings Of

Desire," the movie on which "City of Angels" was based) dates back to when Wenders oversaw the group's "Night & Day" segment of the 1990 TV special, "Red Hot + Blue.

U2 has also contributed songs to several of Wenders' pictures, including "Until the End of the World," "Faraway, So Close" and "The End of Violence.