Cruz to Star Opposite Ben Stiller in “Zoolander 2”

Penelope Cruz is preparing to (blue) steel the spotlight in the Zoolander sequel…

The 40-year-old Spanish actress and Oscar winner has signed on to star opposite Ben Stiller in Paramount Pictures’ comedy Zoolander 2.

Penelope Cruz

Directed by Stiller, from a Justin Theroux-penned script, Stiller will reprise his role as empty headed supermodel Derek Zoolander. There have been rumors that Will Ferrell will be back as the sinister Mugatu and Owen Wilson as Zoolander’s supermodel rival Hansel.

The original Zoolander has become a cult classic, with Stiller fully committing to the character, with some hilarious moments in the original, from Blue Steel to the catwalk showdown between Zoolander and Hansel, to the freak gasoline fight accident that was one of the funniest movie comedy moments in recent years.

No word on what role Cruz will portray in the sequel.

Cruz recently wrapped production on the Julio Medem-directed Mama in Spain, and she plays a small role in the Sacha Baron Cohen comedy Grimsby.

Cruz Named Esquire’s Sexiest Woman Alive

Penelope Cruz has beat out a world of competition to earn a special honor.

The 40-year-old Spanish actress and Oscar winner has been given the title of Esquire‘s Sexiest Woman Alive.

Penelope Cruz - Esquire

Cruz, who stars in the upcoming Spanish-language film Ma Ma and Grimsby with Sacha Baron Cohen is the 10th honoree and the first Latina ever to earn the annual title.

“I’ve played a lot of tricks on myself,” she says in the magazine’s cover story. “I’ve made it hard for me sometimes, especially in my teens and 20s. I had an attraction to drama. Most of us have that, especially if you are an artist — you feel like you are tempted to explore the darkness. I could not be less interested now. For me, the most attractive, charming, cool, fun, interesting thing — how could I call it? A plan.”

Penelope Cruz - Esquire

Previous recipients of the magazine’s Sexiest Woman Alive title include Scarlett Johansson, Mila Kunis, Rihanna, Minka Kelly, Kate Beckinsale, Halle Berry, Charlize Theron, Jessica Biel and Angelina Jolie.

Cruz In Talks to Star Opposite Sacha Baron Cohen in the Spy Comedy “Grimsby”

Penélope Cruz has reportedly spied her next big screen role…

The 40-year-old Spanish actress is reportedly in final negotiations to join Sacha Baron Cohen in Grimsby, Sony Pictures’ spy comedy.

Penelope Cruz

Directed by Louis Leterrier, the story centers on a James Bond-like character, portrayed by Mark Strong, who is forced to go into hiding in his hometown and team up with his English football hooligan brother, played by Baron Cohen.

The cast already includes Rebel Wilson, Ian McShane, Gabourey Sidibe and Annabelle Wallis, among others.

Much of the character information is being kept secret, but sources say Cruz will play a philanthropic corporate leader who may (or may not) be more than she seems.

Baron Cohen, Phil Johnston and Peter Baynham wrote the script.

The film is shooting this summer in the United Kingdom and South Africa.