According to Reuters, the college buddies film – “I Melt With You” – would feature Grey as a muse named Raven who helps one of the men realize that nirvana can only be found after death.
Sources told XBIZ that Grey will not be cast as a porn star or prostitute in the film.
Also slated for the movie are actors Zander Eckhouse ("Huge") as Grey's idealistic writer boyfriend, Abhi Sinha as a medical student and Areielle Kebbel as a young hostess.
The film will be helmed by noted Hollywood director Mark Pellington ("Arlington Road") and developed from a script he wrote with Glen Porter.
Shooting is scheduled to begin in northern California next month.
Grey was featured in mainstream director Steven Soderbergh’s 2009 film “The Girlfriend Experience” and is appearing in this season’s HBO "Entourage" series.