Nicolas Cage has joined the cast of horror movie 'Color out of Space'.

The 55-year-old actor will join forces with Elijah Wood's SpectreVision company - which put together his 2018 motion picture 'Mandy' - on the film, which is based on the H.P. Lovecraft novella.

Joely Richardson, Tommy Chong, Elliot Knight, Julian Hilliard, and Q'Orianka Kilcher will also star in the movie, on which the principal photography is due to begin next month.

Richard Stanley will direct the motion picture - the first time he has helmed a feature film in 20 years - and he has penned the script alongside Scarlett Amaris.

SpectreVision's Daniel Noah is among the producers on the project, and he has praised the director as a ''wizard in his own right''.

He said: ''Richard Stanley - a wizard in his own right - will at long last bring Lovecraft's humbling power to the screen unfiltered.

''Lovecraft is the dark father of modern horror, and we have been searching for an adaptation that captures the true scope of his cosmic dread for years.''

Wood will also produce the film alongside Noah, Josh C. Waller, and Lisa Whalen.

The movie will tell the story about a family, the Gardners, who move to rural New England to escape the hustle and bustle of the 21st century, yet their world is turned upside down when a meteorite crashes into their yard.

The object begins melting into the earth which results in the land and space-time properties being infected by an otherworldly colour, which starts mutating each life form it touches.