Cue the happy dance!
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Dolly Parton and Reese Witherspoon
Credit: Getty Images / Michael Kovac

We're still reeling from this morning's Where the Crawdads Sing trailer premiere, and now our favorite actress, producer, and book club host Reese Witherspoon is giving us another reason to celebrate. 

Her media company Hello Sunshine will produce the film adaptation of Dolly Parton and James Patterson's recently released novel Run, Rose, Run. Think you couldn't be more excited? Think again. According to Entertainment Weekly, Dolly Parton is set to star in the movie!

"I haven't been in a movie in a long time, so it's about time," Parton told EW. "This will be very special."

In a release from Hello Sunshine Witherspoon added, "Growing up in Nashville, I've loved Dolly since the moment I heard her magical voice and saw her luminous personality shine onstage. Beyond her magnetic presence as an artist and performer, she is one of the greatest songwriters and storytellers of our time."

Always one to spot a good story, Witherspoon continued "My admiration for [Parton] grew to even greater heights when reading Run, Rose, Run, a gripping and heartbreaking book I couldn't put down. I couldn't feel more honored to be working alongside her and James to bring this remarkable story to the screen."

After its March 7 release date, Run, Rose, Run immediately became a New York Times bestseller, debuting at No. 1. Parton also released a companion album of the same name featuring 12 original songs inspired by the book that we're sure will be play a big role in the movie's soundtrack.

WATCH: Where the Crawdads Sing Scheduled to Hit Theaters This Summer

Parton's first novel follows the story of AnnieLee, an aspiring singer-songwriter who moves to Nashville to pursue her dreams of becoming a country star. AnnieLee's songs are inspired by a brutal secret and dark past that are threatening to destroy her future. She's guided by country music veteran Ruthanna, who takes the young girl under her wing as she navigates the trials and tribulations of the music industry. 

We can only assume Parton will take on the part of Ruthanna, but we can't wait to see who will be cast in the role of AnnieLee!

We've got all our fingers crossed that we won't have to wait long to see this story come to life on the big screen!