Michael Douglas Tunes Up for Next Role: 'Liberace'

"It's just nice to be play a nice guy after playing all the villains," Douglas said about the role. "Part of Liberace's charm -- yes, his piano playing was wonderful -- but people kind of inherently just picked up on his joy and graciousness, on how much fun he was having!"

Matt Damon is also on board to play his young lover. Douglas joked about how he and Damon will prepare for their kissing scenes. "Every once in a while we send little emails back to each other [and ask], 'What flavor ChapStick do you wear?'"

Douglas did say he thought Damon was brave to play this role. "He's got a great attitude about it and very brave on his part. I'm not sure in the prime of my career, I would necessarily be jumping and diving into this role. It's a bold choice, but he makes bold choices. One of the things I admire about him is how he mixes up his commercial 'Bourne' films, for instance, with ones that he feels are from the heart. He's probably done that better than anyone."

Winning his battle against throat cancer has taught the 66-year-old to "slow down and savor the moments." The film had been postponed while Douglas underwent treatment.