Director Mark Waters has nabbed female lead Carla Gugino for his upcoming adaptation of the popular children's' novel Mr. Popper's Penguins. According to Variety, she will be starring opposite Jim Carrey in this live action-CG animated mix for 20th Century Fox.

The screenplay by Sean Anders, John Morris, and Jared Stern will be a modern day update of Richard and Florence Atwater's classic tale, which features Jim Carrey as Mr. Popper, a New York business associate who inherits six mischievous penguins. Taking care of these unruly animals proves to be a full time job for Mr. Popper, and in the process of keeping his new family afloat, he comes to learn the true meaning of friendship, human and otherwise.

The film is set to go into production by the end of the year, with Mr. Popper's Penguins eyeing a 2012 holiday release.