Michael Douglas & Matt Damon are set to make beautiful music together as gay lovers in the upcoming Liberace biopic director by Steven Soderbergh.

Michael will play the flamboyant piano-playing music legend, and Matt will take on the role of his 24-year-old live-in lover, Scott Thorson. In 1982, Thorson famosly sued Liberace for $113 million in palimony, despite the entertainer’s vehement denial that he was gay.

“Matt’s going to be my young lover,” Michael, 64, recently told Canada’s Sun Media. “Why not? God bless Matt. Hey, it’s easy for me – he’s in his prime. I said to him, ‘Matt, I love you, man. Boy, that ‘Bourne’ (series) must really be going strong.’ But good for him. He’s right taking chances. All those young guys – (George) Clooney – they’re taking risks… It’s smart trying to mix it up a bit and maintain those franchises and still get to do a picture that turns you on.”

Matt — who recently worked with Soderbergh on the new thriller The Informant — is excited about the challenging role and the opportunity to work with Douglas, a fellow Oscar winner.

“I’m doing this Liberace movie. Michael Douglas is playing Liberace and I play his lover. Steven is directing it,” Matt told the paper this week at the Toronto Film Festival. “I saw Michael last night. He comes up and says, ‘Get your Chapstick ready.’ It’s going to be a great movie. My role is a great role. But Michael’s role? It’s spectacular.”

Once the highest-paid entertainer in the world, Liberace died of complications from AIDS in 1987. He was 67.