Meryl Streep will play in 'Ricky and the Flash'

Meryl Streep has signed on to play an ageing rockstar in drama 'Ricky and the Flash'.

The Oscar-winning 'The Iron Lady' actress will play a fading rockstar, who tries to reconnect with her children after years of neglecting them, according to the Wrap.com.

The script has been penned by Diablo Cody, with Jonathan Demme in duty to direct and Marc Platt, who worked with Demme as a producer.

Meryl Streep has three Academy Awards to her name.

The role sounds similar to Streep's recent Oscar-nominated part as difficult, drunken matriarch Violet Weston in 'August: Osage County', so the 64-year-old actress will no doubt given another standout performance.

Universal and Fox are the studios interested in financing the project. The have been no other actors confirmed, yet, for the film.

Streep will next be seen in 'The Giver' and 'Into the Woods'.

Next year she will be starring in women's rights drama 'Suffragette'.