The as yet untitled film will not feature Hirani's favorite star Sanjay Dutt.
"The film is still at the scripting stage but Shah Rukh Khan has given his consent to work in the film, which will start shooting at the end of the year," say Bombay Times.
The film is distinct from the planned Munnabhai sequel called Munnabhai Chale America, the fate of which will be determined by the sentence meted out to Sanjay Dutt for violating the Arms Act. It is also not the rumored film based on the popular novel 5 Point Someone.
Hirani's third directorial venture is keeping him busy because it will be the first time he and SRK get to work together.