According to The Hollywood Reporter, Stewart will star in "The Runaways," which will chronicle the rise and fall of the first successful all-girl hard-rock band. Their lineup included guitarists Jett and Lita Ford, drummer Sandy West and singer/keyboardist Cherie Currie; Micki Steele and Jackie Fox were the most prominent of their rotation cast of bassists. The band was initially seen as a novelty act, something that could be easily marketed as "jailbait on the run" dressed in leather and lingerie. However, the girls were all serious and skilled musicians who made their mark on the punk-rock scene and became hugely influential.

The band came together in 1975 and lasted for about four years, adding and losing members, and eventually falling apart due to disagreements over money and management issues. Jett and Ford went on to enjoy highly successful solo careers, while Steele joined the Bangles.

"The Runaways" will follow Jett and Currie, from the teenage group's rapid rise to their disillusionment and decision to disband. The film is expected to begin shooting in early 2009 and will work around Stewart's commitment to "New Moon," the "Twilight" sequel that also plans to shoot early next year.