Kristen Wiig is being eyed for a role in “Anchorman: The Legend Continues” for Paramount Pictures, a person familiar with the negotiations has told TheWrap.

Wiig would play opposite Steve Carell, as a love interest in the sequel. The script is still being written, and no cast beyond the principals has been set.

Adam McKay is directing the feature, which is being produced by Judd Apatow through his Apatow Productions banner. The film is a sequel to the 2004 hit, “Anchorman: The Legend of Ron Burgundy” and is due to be released in October 2013.

Best known for her work on “Saturday Night Live,” Wiig is one of the most in-demand actresses in Hollywood, since appearing in the film "Bridesmaids." She could recently be seen at the Toronto International Film Festival in the indie feature “Imogene,” and has been busy filming a number of titles, including “The Secret Life of Walter Mitty,” and “Hateship Friendship,” with Guy Pearce.

“Anchorman: The Legend Continues” will see the original film’s cast return, including Will Ferrell, Christina Applegate, Paul Rudd and Carell. The story follows the on-set adventures of San Diego’s top newsman who is played by Ferrell. “Anchorman: The Legend of Ron Burgundy”  made around $85 million at the box office.