Or at least they want to. La Pfeiffer is a notoriously difficult sign-on for any picture and sometimes (just look at her filmography) she doesn't know what's best for her. The film is called Chéri --which is based on the 1920 novel from famed French writer Colette. She also penned Gigi which went on to be a big Oscar champ in movie form.
A little bit about Cheri from Wikipedia:
Chéri tells a story of the end of a six-year affair between an aging retired courtesan Léa, and a pampered young man, Chéri. Turning stereotypes upside-down, it is Chéri who wears silk pajamas and Léa's pearls, and who is the object of gaze. And in the end Léa demonstrates all the survival skills which Colette associates with femininity. (The story continued in The Last of Chéri (1926), which contrasts Léa's strength and Chéri's fragility and decline).On paper it sounds like a pfantastic idea: reteam with the men who helped you nab your first Oscar nomination for a juicy retired courtesan role. The only time you ever came close to winning -- The Fabulous Baker Boys (FYC ad, pictured left) -- you played a former call girl. It gives you a challenging character and plays up your considerable but aging beauty as well as your steelier side. It even comes with a prewritten sequel (The Last of Chéri) if all goes well.
... but will she do it? Léa the courtesan is 49 in the novel (Pfeiffer's actual age) and Chéri is 25. If Pfeiffer signs on, what young rising male star would risk playing her dandified object of affection? We shouldn't yet get our hopes up but wouldn't it be sweet to see her in a prestige costume drama again --it's been 15 years since her last one, Martin Scorsese's The Age of Innocence. If she doesn't accept, you can bet that they'll still find their Léa. There's at least a dozen underused late 40s/early 50s movie beauties who'll no doubt be salivating for this opportunity.