Will Smith and Michael Bay are to reunite for a new Netflix movie.

The 56-year-old actor was first directed by Bay, 59, in 1995 when they made Bad Boys together, and the pair look set to re-team.

Sources have told Deadline that Bay is in talks to helm action film Fast and Loose for the streaming giant.

The movie will tell the story of a guy who wakes up in Tijuana with no memory.

He then slowly starts to remember certain things about his life and comes to the conclusion he has been living a double-life — as an undercover CIA agent and a crime boss.

Smith will produce the project alongside Kelly McCormick and David Leitch for 87North.

Jon Hoeber, Erich Hoeber, Chris Bremner and Eric Pearson have penned the script.

News of Smith's potential involvement in the movie comes after he recently dropped out of the cast of Sugar Bandits.

Last month, it was revealed Smith had left the project as an actor due to scheduling conflicts, but the Independence Day star and his Westbrook production company will remain involved in the big-budget action flick.

Westbrook is thought to be looking to re-cast Smith's role and still plans to make Sugar Bandits next year.

However, there are now questions about the movie's outlook as it was sold to leading distributors and Amazon Prime on the understanding that the Oscar-winning actor would be starring in it.

Smith had been due to play a former special forces soldier, who is in command of an elite vigilante squad working to wipe out the drug trade in Boston.

Sicario: Day of the Soldado filmmaker Stefano Sollima is on board as director.

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Source: Bang