Tom Cruise Closing Deal to Co-Star in 'Rock of Ages'

Tom Cruise Headshot 2011
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TOKYO - SEPTEMBER 28:  Actor Tom Cruise attends the Japan Premiere of 'Knight and Day' at Roppongi Hills on September 28, 2010 in Tokyo, Japan. The film will open on October 9 in Japan.

The actor will play Jaxx, who sings Bon Jovi's "Wanted Dead or Alive" in the theater production from which the film is adapted.

Tom Cruise is in final negotiations to co-star in Rock of Ages, New Line's adaptation of the hit stage musical about 1980s rockers. Adam Shankman is directing from a script by Chris D'Arienzo.

Cruise has been circling the project since October. He will play Stacee Jaxx, the arrogant and charming star at the top of his career. Jaxx sings Bon Jovi's "Wanted Dead of Alive" in the theater production. Alec Baldwin and Russell Brand are also circling big roles in the film but do not have deals yet.

Shankman's Offspring Entertainment, Tobey Maguire's Maguire Entertainment and Corner Store Entertainment are producing. Production is shooting for a May start date.

Cruise is repped by CAA.