Variety reports that Sorkin's script will focus on Ball and Desi Arnaz's 20-year marriage. The two famously created the popular television series "I Love Lucy."
A director for the untitled project has not been announced. The Sony-based Escape Artists is shepherding the film.
Blanchet is an Oscar winner for "Blue Jasmine" and "The Aviator." She's appeared on the New York stage in A Streetcar Named Desire, The Maids and Uncle Vanya. Oscar winner Sorkin's high-profile projects include "The Newsroom," "The West Wing," "The Social Network," The Farnsworth Invention and A Few Good Men.
A previous television biopic about Ball's life, the 2003 "Lucy," starred Broadway actress Rachel York.