Even though Peter Jackson has given up on it, the long awaited Halo movie may not be as dead as we’d thought. Instead, it could be in the hands of Steven Spielberg.

IESB has a rumor in which they say Steven loves the script Stuart Beattie wrote back in 2008 (thought at the time why he wrote it was somewhat unknown), and that his DreamWorks company is actively seeking a big, new summer tentpole. They want it to be Beattie’s Halo: The Fall of Reach script and word is that both Spielberg and Beattie are in heavy negotiations to make it happen.

Right now Microsoft owns the rights to everything and Peter Jackson is completely out of the picture. In short, they’ll have to talk Microsoft into it and in the past, the company has been extremely reticent to give up any of its control over a possible Halo movie franchise. Microsoft has been adamant about doing the movie its way, or not doing it at all. And then there’s the timing of this whole thing. Halo remains popular, but it’s not the world shaking sensation it was back when Microsoft sent copies of their previous script to Hollywood’s major studios, delivered by errand boys in Master Chief costumes. This movie should have been done a year ago. If they start it now it’ll be at least two more years before there’s any sign of it in theaters.

Still, the Halo games are great fodder for an epic, blockbuster, science fiction adventure movie. They’re focused on a universe in which humanity is at war with a group of alien, religious fanatics known as the Covenant, fighting over who will control a series of manufactured ring worlds which just happen to have the power to destroy all life in the galaxy. Done right, that could be fantastic seen on screen, but it’s also going to be expensive. Open up your wallet Spielberg.