According to Variety....yes.
"Less than six months after securing an option for the movie rights to Capcom's popular video game "Onimusha," Gaga Communications announced Monday that it has inked to turn another Capcom game, "Devil May Cry," into a blockbuster.
The deal is based on an exclusive rights option agreement.
As part of Gaga's extensive efforts to diversify and get into the content production business, "Devil May Cry" will be developed as a live action feature film with the help of Hollywood talent to be announced later. The $40 million budgeted pic is slated for a 2008 production and release the following year.
The "Devil May Cry" videogame series has sold 4.27 million copies worldwide. The game's hero, Dante, fights to protect humanity against the devil"
Right....so......uh.....who would play Dante?
I have a bad feeling for this already....