Alec Baldwin has hosted "Saturday Night Live" a dozen times over the years, including five shows since Tina Fey has been its head writer.

Now the two of them may be working together a lot more, as Baldwin is on the verge of being cast in an NBC pilot written by and starring Fey.

Baldwin, an Oscar and four-time Emmy nominee, is in the final stages of negotiations to join Fey in the untitled pilot, according to The Hollywood Reporter. The project is a comedy that goes behind the scenes of a sketch-comedy show not unlike "SNL."

Should the show make it onto NBC's schedule, it would be Baldwin's first series-regular role since he played Joshua Rush on "Knots Landing" in the mid-1980s. He's hardly shied away from TV work since then, though; in addition to his numerous "SNL" appearances, he's had a recurring part on "Will & Grace" (for which he earned an Emmy nod last year) and made guest appearances on "Friends," "Nip/Tuck" and "The Simpsons," among other shows.

He also has several movies on tap, including the Martin Scorsese film "The Departed" and "Running with Scissors," an adaptation of the Augusten Burroughs memoir.

Fey's project is being developed at the same time as Aaron Sorkin's "Studio 60 on the Sunset Strip," which is also a behind-the-scenes look at a long-running sketch-comedy show. Sorkin's project is an hourlong drama that stars Matthew Perry, Amanda Peet and Steven Weber; it's considered a safe bet to make NBC's fall slate.