It was almost two years ago when I first read in an interview with Tim Heidecker and Eric Wareheim, the creators of Adult Swim’s oddball sketch comedy series Tim & Eric Awesome Show, Great Job!, that the duo were working on their first theatrical feature. Titled Tim & Eric’s Billion Dollar Movie, the movie would star Heidecker and Wareheim in addition to some big name comedy stars and famed character actors, two groups the show itself never had a shortage of in the cast. But since then little has been heard about the status of the movie or when it would be released. More importantly, once finished would this movie ever be seen?

Today we are happy to report that not only has Billion Dollar Movie been completed but it has a distributor, a release date set in stone, and an actual, honest-to-Spagett trailer!

Granted, the trailer is little more than 42 seconds of fake quotes of praise followed by a rather large woman in a blue leotard dancing on chroma key lily pads, but if that’s not a trailer for a movie made by the deranged comic minds who gave us nipple milk and “Little Danson Man,” then I dread to think what is.

The plot of the movie follows Tim and Eric as they are given a billion dollars to make a movie, but after things get screwed up as royally as only these two can they’re forced to flee Hollywood and become businessmen in an abandoned mall. Zach Galifianakis (The Hangover), Will Ferrell (Anchorman), John C. Reilly (Boogie Nights), Robert Loggia (Scarface), Jeff Goldblum (The Fly), Will Forte (The Slammin’ Salmon), and William Atherton (Ghostbusters) are also making appearances in the movie. Some of these actors have been on Awesome Show before, but unfortunately they won’t be playing their best known characters. So no Tairy Greene or Dr. Steve Brule in the glory of 35mm, or digital video, or whatever the hell they shot this potential epic on.

Tim & Eric’s Billion Dollar Movie, which is being distributed by Magnolia Pictures, will premiere on Video-On-Demand on January 27, 2012 and in select theaters on March 20, 2012.

Trailer