It's hard to imagine any Christmas film topping It's a Wonderful Life but that's not going to stop Hollywood having a go at making a sequel to the 1946 original.

Variety reports that It's a Wonderful Life: The Rest of the Story is in the pipeline and is expected to be released for Christmas 2015.

While many of the cast, including James Stewart who played George Bailey, the family man who redeems himself after falling on hard times, have passed away, 73-year-old Karolyn Grimes, who played his on-screen daughter Zuzu will play the angel in the planned sequel.

Producer, Bob Farnsworth, who co-wrote the script with Martha Bolton, said: "The storyline of the new film retains the spirit of the original - every life is important as long as you have friends."

The producers are said to be in talks with original stars Jimmy Hawkins, who was Tommy Bailey, and Carol Coombs, who played Janie Bailey, to reprise their roles.