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Kevin Spacey will star as Richard Nixon and Michael Shannon will portray Elvis Presley in the long-in-development movie “Elvis and Nixon.”

The project, based on the 1970 meeting of the two figures at the White House, is being introduced at AFM to foreign buyers by sales-financing banner Bloom.

The project has been in development since 2011, when Eric Bana was attached to play Presley with Danny Huston as Nixon. At that point, Benaroya Pictures was on board to produce.

Liza Johnson (“Hateship Loveship”) will direct from a screenplay by Cary Elwes with Hanala and Joey Sagal.

Cassian Elwes and Holly Wiersma are producing. Prescience’s Tim Smith and Paul Brett are executive producing with Prescience financing.

The meeting took place on Dec. 21, 1970, when Presley showed up on the White House lawn to request a meeting with Nixon to be sworn in as an undercover agent.

Shannon is repped by CAA, Wetzel Entertainment and Morris, Yorn, Levine, Krintzman, Rubenstein, Kohner & Gellman. Spacey is represented by CAA and Joanne Horowitz Management.

News about Spacey and Shannon was first reported by Deadline.com.