"Christmas Story has always meant a lot to me personally," Billingsley, who became famous for his portrayal of BB gun-obsessed Ralphie Parker in the 1983 classic, tells the trade paper. "I'm excited to bring this film to the stage because the story and the characters lend themselves so well to the world of musicals."
Based on Jean Shepherd's short stories that also inspired the film, the play will include an original score from Benj Paske and Justin Paul. "I am honored to be a part of this project and look forward to bringing the play to more stages," Billingsley says. "Just think about the idea of a leg-lamp kickline."
Billingsley, 39, transitioned from acting to working behind the camera. He has frequently collaborated with funnyman Vince Vaughn, producing The Break Up and Four Christmases and directing 2009's Couples Retreat.
A Christmas Story: The Musical! will begin previewing on Wednesday at Seattle's 5th Avenue Theatre and run from Dec. 9 to Dec. 30.