Universal has cut a deal to mount a live-action film based on Sid and Marty Krofft’s ’70s kidshow “Sigmund and the Sea Monsters.”

The Kroffts will produce with Jimmy Miller and his Mosaic banner. Julie Darmody is executive producer.

Deal comes after U and Mosaic completed production on the $100 million Will Ferrell starrer “Land of the Lost,” another property that originated as a Saturday morning Krofft kidshow creation. “Land of the Lost” is set for release in June.

Script for “Sigmund” will be penned by Dana Gould, a writer-producer on “The Simpsons.”

“Sigmund” becomes the third studio property set up for movie treatment for the Krofft brothers. Sony is also developing a live-action version of “H.R. Pufnstuff” and is in talks with director Conrad Vernon, who helmed “Shrek 2” and “Monsters vs. Aliens.”

“Sigmund” originally ran on NBC from 1973-75, and the show was a staple in reruns on local TV stations for the rest of the decade. After the sea monster is booted from his home by his nasty brothers for being too nice, Sigmund is befriended by two friends who stash him in their clubhouse.

The Krofft brothers were craftsmen-for-hire before they gained notice in the TV biz with the distinctive sets and costumes they designed for Hanna-Barbera’s live-action “The Banana Splits Adventure Hour.”

“After that, Sid and I insisted we own everything we did,” said Marty Krofft. “It didn’t hurt that I was Ron Meyer’s first client at CAA,” he added of the Kroffts’ new-found traction at U.

The Kroffts said they hope to follow with the remaining properties originated on “The Krofft Supershow,” which include “Electra Woman and Dyna Girl,” “Lidsville,” “The Bugaloos,” “Dr. Shrinker,” “Bigfoot and Wildboy” and “Wonderbug.”