12/05/2011 01:28 pm ET Updated Dec 05, 2011

Sofia Coppola To Develop 'Bling Ring' Movie: REPORT

Get excited, but not too excited: TMZ reports that Sofia Coppola is developing a movie based on the "Bling Ring" -- those crazy Californian kids who utilized Twitter and other forms of internet research back in 2009 to swipe about $3 million of stolen swag from the homes of celebrities like Paris Hilton, Rachel Bilson and Lindsay Lohan.

Coppola, a regular fixture at fashion shows and close friends with designer Marc Jacobs, is no stranger to the material luxury that drove the gang of half-dozen of mostly privileged teens to steal.

TMZ reports that the movie, which is without a start date and script, is to be developed with father Francis Ford's Zoetrope studio and has even pulled in some of delinquents' surrounding family members to work as "consultants."

A Lifetime movie by the title of "The Bling Ring" based on the group and starring Jennifer Grey came out earlier this year, in September; meanwhile, ringleader Rachel Lee was sentenced to four years in California prison in October. The celebrity-obsessed kids might now become celebrities themselves: how meta.