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The film isn't greenlit yet but is expected to mark the directing debut of "Frost/Nixon" playwright Peter Morgan, who wrote the screenplay.
Sheen, who starred as David Frost in "Frost/Nixon," played Blair in the Morgan-scripted "The Deal" and "The Queen." Helen McCrory, who played Cherie Blair in "The Queen," will reprise that role in "The Special Relationship."
Kathleen Kennedy and Morgan are exec producers, along with Andy Harries. Frank Doelger and Ann Wingate are producers. HBO is in discussions with the BBC to come aboard as a producing partner.
Quaid, who next stars in "G.I. Joe: The Rise of Cobra," will be honored by ShoWest as Male Star of Tomorrow.
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