Gwyneth Paltrow will be taking on Iron Man for Marvel Entertainment and Paramount Pictures.

She'll be joining Robert Downey Jr. and Terrence Howard in the comic book adaptation; Jon Favreau is directing. Downey plays armor-clad superhero Iron Man as well as his alter ego, billionaire industrialist Tony Stark; and Terrence Howard is Stark's best friend Rhodey.

According to The Hollywood Reporter, Paltrow will play Stark's personal assistant Virginia "Pepper" Potts, one of the few people in Stark's life who can go toe-to-toe with him and who occasionally serves as his conscience. The pair also share a secret attraction to each other.

Iron Man begins production in March in Los Angeles; a May 2, 2008 release has been set.