The studio has acquired a pitch from the trio, which will star in and produce the comedy set in the world of music. Universal-based Judd Apatow is also producing.
The group worked from 2005 to 2011 on "Saturday Night Live," when Samberg was a cast member and Taccone and Schaffer were writers. They are best known for producing musicvideos "Lazy Sunday," "Dick in a Box," "Jizz in My Pants," "Like a Boss" and "I'm on a Boat."
The Lonely Island also released the 2009 album "Incredibad" and 2011's "Turtleneck & Chain," with songs from "SNL" such as "I Just Had Sex" featuring Akon, "The Creep" featuring Nicki Minaj and "Jack Sparrow" featuring Michael Bolton.
In January, the group inked a deal with Fox to develop TV shows on digital platforms for the network.
Schaffer and Taccone will co-direct the movie. Universal's Erik Baiers will oversee the project for the studio.
Apatow has been a prolific producer of movie comedies for Universal with "Knocked Up," "The 40-Year-Old Virgin," "Bridemaids," "Forgetting Sarah Marshall," "Get Him to the Greek," "This Is 40," "Funny People" and the upcoming "Trainwreck."
Samberg, Schaffer, Taccone and Apatow are represented by UTA and Mosaic.
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