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Tobey Maguire Cast as Bilbo Baggins in The Hobbit?

This morning, rumors and stories have started claiming that ex-Spiderman lead Tobey Maguire has actually signed on to be Bilbo Baggins in the upcoming movie The Hobbit.

Apparently, Peter Jackson and Del Toro have been after Maguire for months :

Last night a source told The Sun: "The Hobbit team are deep in the casting process.
"Everyone is over the moon. Tobey is not only one of the most recognisable faces in Hollywood, he is also one of the best actors."

The story was broken in The Sun, so it's still to be taken with a grain of salt.

But it could be true. Myself, I can very well see Maguire as a young Bilbo Baggins.

The Movie will be produced by Peter Jackson, with Guillermo Del Toro directing. Filming is set to commence this summer, and the movie will be split in two with part one airing in 2011 and part 2 in 2012.