Kevin Mazur / WireImage 1 / 7
Kevin Mazur / WireImage 1 / 7

Looks like "Little Fockers" won't be the last time you see Barbra Streisand on the big screen.

The legendary actress and singer is in negotiations to direct, produce and play the starring role of Mama Rose in a film adaptation of the classing 20th Century musical "Gypsy," according to a report by the New York Post.

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Babs even has the blessing of Broadway legend Arthur Laurents, now 92, who penned the original book "Gypsy" in 1959.

"Barbra and I have been getting along very well now for some time," Laurents told Michael Riedel of the New York Post. "We've talked about it a lot, and she knows what she's doing. She has my approval."

And it sounds like Streisand has the right personal experience to do justice to the role of the obsessed stage mother Mama Rose.

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"She had a mother who she always thought was Mama Rose," explains Laurents in the article. "I don't want to get into the details, but the point is she knows. She's got it in her. She's going to be much more than people expect."

Though Laurents says he won't be involved in writing the script, he hints that he will be involved in some capacity by saying, "Hollywood is Hollywood, and I've already been there. But I'll be around."

Streisand and Laurents have worked together in the past, first in 1962, when Laurents directed Streisand's Broadway debut for "I Can Get It for You Wholesale," and later when he penned "The Way We Were" for the actress.

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Laurents shares the rights to "Gypsy" with lyricist Stephen Sondheim, and the estates of composer Jule Styne and original director Jerome Robbins. "Gypsy" was first adapted for the screen in 1962.

"We're talking about 'Gypsy' being a bookend for us," he told the New York Post. "She began with me, and this will be a grand farewell for us."

Sounds like the perfect ending to a long and illustrious professional relationship.