Theatre agent John Buzzetti of William Morris Endeavor Entertainment is also attached to the project, which will have a book by Reid Carolin, who also penned the movie's screenplay. Soderbergh and Tatum will produce Magic Mike: The Musical with partners Gregory Jacobs, Nick Wechsler and Carolin.

The Warner Bros. film hits movie theatres June 29 and is inspired by events in Tatum's life. The film includes choreographed striptease acts and exotic dancers dressed as police men—à la The Full Monty—as well as an opening number set to The Weather Girls' "It's Raining Men." The story follows a 19-year-old slacker (Alex Pettyfer), who meets Magic Mike (Tatum) and is introduced to the world of stripping, picking up girls and extreme partying.

Carolin is also a producer on the film, and appears in it along with co-producer/star Tatum, a beefy male stripper who is the most important asset to Club Xquisite. His exotic dancer pals are Matthew McConaughey, Joe Manganiello, Pettyfer and Matt Bomer, among others.

"We are doing Broadway," Carolin previously told USA Today. "We are working on it as a Broadway show, which would be a different story, more of a romp, more of a fun night out at a club with a story. I'm almost more excited about that than the movie because I think it's the perfect thing for women to go see on Broadway, to be participants in the show."

No official announcement has been made about a Broadway adaptation, but co-star Adam Rodriguez told USA Today that the possibility has been discussed since production began on the picture. Broadway's most recent male-stripper musical, The Full Monty, by David Yazbek (music and lyrics) and Terrence McNally (book), played 770 performances on Broadway. It was inspired by the British film of the same name, though the musical moved the story's setting to economically depressed Buffalo, NY. The musical earned 10 Tony nominations (including Best Book and Best Score) in 2001; it spawned a tour and a cast album and remains a popular stock and amateur title.

Warner Bros. describes "Magic Mike" this way: "Set in the world of male strippers, the film follows Mike (Tatum) as he takes a young dancer called The Kid (Pettyfer) under his wing and schools him in the fine arts of partying, picking up women, and making easy money."