Director Tim Burton's got his eye on another A-list star and, no, this isn't Johnny Depp.

Tim Burton, who is best known for his 2010 remake of "Alice in Wonderland," has another fairytale movie in mind that he wants to bring to life. What's this you ask? It is none other than our favorite wooden boy, Pinocchio.

The book, written by Carlo Collodi, is set to be made into another movie and this time it's not a Disney remake but something even better. Known for the animations he brings to life and his peculiar yet creative way of directing, Tim Burton is currently in talks with Warner Bros to produce the live adaptation of "Pinocchio."

Johnny Depp may win the awards for most collaboration with Tim Burton, but this time around Burton's got his eye on "Sherlock Holmes'" Robert Downey Jr. His role would circle around the role of Pinocchio's maker, Geppetto.

Still no news about Tim Burton and Robert Downey Jr. signing on for the actual project, but it would be quite interesting to see these two at work.

Downey Jr., who's known for his quirky and hilarious role in "Sherlock Holmes," would make a fine additive to Tim Burton's picturesque way of directing movies. Sources have claimed though that Downey has "expressed serious interest" about joining the said project as posted on The Hollywood Reporter.

Both Hollywood A-lists are currently busy with their own separate projects. While Downey Jr.'s movie, "Sherlock Holmes", is still shown on the big screen, the actor has a few more films up his sleeve that are set to come out this year.

These films include his "Iron Man" side in Marvel's much awaited movie, "The Avengers." Director Tim Burton on the other hand is in works with his all time favorite Johnny Depp in a supernatural film, "Dark Shadows." Burton is also in the works for a Disney stop-motion animation entitled "Frankenweenie."

As for "Pinocchio," our noses are on the hold up on growing longer because no one's lying here when we say it'll be a potentially good collaboration.