Actress Freida Pinto at the 81st Academy Awards in Los Angeles. Photo Matt Sayles/AP.
"This year's Cinderella at the Oscar ball will join the long list of Allen's muses as she takes on the ingenue role in the ... still-untitled pic," industry paper Variety reported.
The two actresses have been cast for the London-set flick, financed by the makers of Allen's latest hit, Vicky Cristina Barcelona, the report said.
Watts is to join Allen for filming - which will take place in London between June and September - after wrapping her current project Mother and Child, a film by Colombian director Rodrigo Garcia.
