Tobey Maguire Jennifer  Maguire Real Foold Daily jeans kids Tobey Maguire with his family over the weekend

Tobey Maguire's schedule opened up after the studio pulled the plug on Spider-man 4 due to what they said were delays, but the real reason may have been because he wanted to play Bilbo Baggins in The Hobbit!

The Sun reports that Maguire (who bears a striking resemblance to Elijah Wood, who played Frodo in LOTR) was unhappy with where Spider-Man 4 was headed, so pulled the plug in order to free himself up for The Hobbit.

A source close to the film-makers says, "Everyone is over the moon. Tobey is not only one of the most recognizable faces in Hollywood, he is also one of the best actors."

Just a month ago, Maguire told reporters, "I love Guillermo del Toro and Peter Jackson and I certainly wouldn't take myself out of the conversation."

But he had no comment when our photogs spotted him out having brunch with the family in LA at Real Food Daily: