Oct 28, 2010 15:45 GMT  ·  By

Proving that the success of Sylvester Stallone’s “Expendables” was far greater than we may have thought, a new movie based on the same formula is in the making, this time starring Wesley Snipes and Chuck Norris.

Snipes may be having a rather troubled time in his personal life, what with his tax issues and pending jail sentence, but he’s still squeezing in some acting, Variety reports.

He and Chuck Norris, yet another veteran action movie icon, will star in a martial arts comedy in the vein of “The Expendables,” it has emerged. Snipes will do more than just act for the new project.

“The thesp has signed to star in the martial arts comedy ‘Master Daddy’ and produce through his Maandi Media Entertainment with Tayrona Entertainment Group. Dan Meachum and James Ordonez are also producing,” Variety informs.

As also noted above, “Master Daddy” will have a lot in common with Stallone’s most recent brainchild (and quite a box office hit as well), including a dozen of cameos from famous faces.

“The film will feature cameos and performances from dozens of martial arts and fighting arts stars including Chuck Norris, Chiba, Frazier, Gracie, Hung, Inosanto, Jaa, Rhee, Kim, Lee Mosely, Bob Wall, Rampage, Anderson Silva and Ron Van Cleff,” Variety says.

“Musicians Rock Steady, Jabbawakkies and Quest Crew will also perform,” reads the same report.

Asked about the film, Snipes describes it as a “mix of Kung Fu Hustle and Meet the Parents,” so it should be just as entertaining to watch as “The Expendables” was.

The film doesn’t go into production for a while longer, as shooting is scheduled to start in the fall of 2011. A release date has yet to be announced.

In the meantime, though, fans can keep an eye out for details on a sequel to “The Expendables,” since Stallone is believed to be working on it as we speak.

As we also informed you back in August this year, the consensus seems to be that Bruce Willis should get more screentime in the follow-up because he literally killed it in the few minutes he had in the first film.