12/14/2011 04:56 pm ET Updated Dec 16, 2011

'Romy And Michele's': The Musical, With Plans For Broadway (VIDEO)

The Romy and Michele musical ("Romy And Michele's High School Musical"?) is officially a thing! Playbill has an exclusive up about the 2-year-old project helmed by the three original producers of "Romy And Michele's High School Reunion," which finally saw a private reading in New York last week. Tony nominee Kerry Butler ("Xanadu," "Catch Me If You Can") read for the part of Michele, and Lesli Margherita ("Zorro") read for her deep-voiced compadre Romy. (Side note: someone named "Lesli Margherita" in this role --> yes.)

Playbill's other pertinent reveals: the ever-important score for the musical has already been written by "Weeds" soundtrack-scribes Gwendolyn Sanford and Brandon Jay, selected for their "special" "80s-90s rock sound"; the script is a "reimagining," with scenes from the movie mixed with new stuff; and the ultimate destination is indeed Broadway, though one producer told Playbill, "we don't want to blow the show up just to get it into a large theatre."

There's what looks to be an official unofficial Web site for the project, which offers basically no juicy details and one tantalizingly-password-protected post titled "Selected Songs: Romy and Michele's High School Reunion, The Musical." Gah! Will "Time After Time" make the cut or not? The answer seems obvious but strange things can happen!

WATCH Lisa Kudrow, Miro Sorvino and Alan Cumming make magic on the dance floor:

[via Playbill]