Variety.com said Rourke is up for the role of the Russian arms dealer, the Crimson Dynamo, in "IM2."

Director Jon Favreau reportedly plans to begin shooting the sequel to the 2008 Marvel Entertainment blockbuster this spring. Paramount Pictures, which will distribute the movie, has scheduled it for release in the summer of 2010.

Robert Downey Jr. plays the title character in the "Iron Man" franchise and Variety.com said Sam Rockwell is in talks to play his as-yet-undisclosed nemesis in the second installment. Rockwell can now be seen in "Frost/Nixon."

In a separate report, the entertainment industry trade newspaper said Rourke has signed on to play another arms dealer in "The Expendables," an action-adventure flick written and to be directed by Sylvester Stallone. Stallone will also star in the film alongside Jason Statham, Jet Li, Randy Couture and Dolph Lungdren.