According to The Sun, a source has described the new TV ad as "'Crouching Tiger Hidden Dragon' meets 'Kill Bill'."
The paper adds filming is to begin within weeks and will be the first time the Real Madrid midfielder, who is set to "fight" the two stars, has teamed up with "singers or Hollywood actresses" for advertising.
Earlier this year, Beckham starred in another epic campaign, a medieval-themed push alongside a raft of other footballers including Brazil star Ronaldino. That ad was created by French agency CLM BBDO and directed by Tarsem Singh, director of the feature film 'The Cell', starring Jennifer Lopez, and music videos for REM.
Pepsi also launched a Tarsem-directed "gladiator"-style creative at the beginning of the year, featuring Enrique Inglesias, Beyonce, Pink and Britney Spears.
A spokesperson for Pepsi said: "While we can not confirm the details, we're currently working on a very exciting ad with a great cast."
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