20th Century Fox is developing a X-Men Origins: Wolverine spin-off featuring Deadpool, the wise-cracking mercenary played in the film by Ryan Reynolds, says The Hollywood Reporter.
Reynolds is attached to reprise the character for what for now is simply being called Deadpool. Lauren Shuler Donner and Marvel Studios would act as producers. The project is currently out to writers.
The trade adds that the studio considered a Deadpool spin-off early in "Wolverine's" development process, which is why it cast Reynolds.
UPDATE: A source close to Fox tells us that the Deadpool and second "Wolverine" movies are coming from the two Easter Eggs at the end of X-Men Origins: Wolverine:
"We are developing a spinoff with Deadpool, as well. It is one of the two different "Easter egg" scenes after the credits of WOLVERINE and hints at two different movies that are coming FROM THEM. One is the Japan backstory which was announced earlier, the other is about Deadpool. The film, which would be produced by Lauren Shuler Donner and Marvel, has Ryan Reynolds attached and would be a complete exploration of this unique character - his origins, his emergence as the Merc with with the Mouth, etc. We are looking for writers as well."