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.

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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.