watts091511_01_X17WM230.jpgAustralian actress Naomi Watts will be playing Princess Diana in the upcoming biopic Caught In Flight.

The 43-year-old starlet, who happens to be BFFs with Nicole Kidman, said the following about playing the iconic role:

The movie, being directed by Oliver Hirschbiegel, will cover the final two years of Diana's life ... leading up to her fatal car accident in Paris.

No word on who will be playing billionaire Dodi Al-Fayed ... the man who was reportedly in a relationship with Diana.

Watts has also reportedly been cast to play Marilyn Monroe in the upcoming film Blonde. The flick will be directed by Andrew Dominik and penned by Joyce Carol Oates.