'Arrow' exec producer Marc Guggenheim will pen the script for the drama, which is in development with McG also attached.

Two decades after its debut in theaters, True Lies is headed for the small screen.

Fox has handed out a sizable put-pilot commitment to a reboot of James Cameron's 1994 Arnold Schwarzenegger- and Jamie Lee Curtis-led action drama.

Arrow executive producer Marc Guggenheim will pen the script for the potential drama, which is said to be a modern version of the story about how a suburban couple adjusts when one of them is revealed to be a spy.

Cameron — who wrote, directed and produced the feature film — is attached as an executive producer. The project hails from 20th Century Fox Television, whose feature arm produced the 1994 pic. McG will exec produce and, should the script move forward, direct the pilot. McG's Wonderland Sound and Vision president Mary Viola and frequent Cameron collaborator Rae Sanchini of his Lightstorm Entertainment banner will also exec produce, with the latter having been credited in the same capacity on the movie.

For Guggenheim, True Lies marks his first broadcast project to come after the Arrow and Legends of Tomorrow exec producer exited his overall deal with Warner Bros. Television. The prolific comic book scribe maintains a full plate on the small screen with both DC Comics TV shows for The CW as well as Netflix's animated Trollhunters.

True Lies also marks Cameron's largest small-screen scripted project to date and brings the Avatar mastermind back to Fox after the network adapted his Terminator franchise for television nearly 10 years ago.

McG, meanwhile, will expand his relationship with Fox, where he is attached to exec produce Ryan Murphy's upcoming 911 procedural as well as its Lethal Weapon reboot.

Cameron is repped by CAA; Guggenheim and McG are with WME.

True Lies grossed $378.8 million worldwide (on a budget of $115 million). The action drama co-starring Tom Arnold, Bill Paxton, Eliza Dushku and Charlton Heston — itself a remake of a 1991 French comedy — earned Curtis a Golden Globe win for best actress. (Watch the trailer, below.)

Reboots continue to remain in high demand as broadcast, cable and streaming outlets look for proven IP in a bid to cut through a cluttered scripted landscape that is quickly approaching 500 original series. Key to the remakes is having the original producers — in this case, Cameron and 20th Century Fox — involved in some capacity as more studios look to monetize their existing film libraries. This development season shows no signs of that trend slowing down as ABC is readying a live-action take on The Jetsons and a female-led Greatest American Hero, while NBC is adapting The Munsters and Miami Vice and Amazon recently picked up a Starsky and Hutch revival, among others.