UPDATE: Entertainment Weekly has confirmed that Twentieth Century Fox is in negotiations with Michael Fassbender for the role of Erik Lensherr, who becomes Magneto.
Michael Fassbender is in the running for two different comic book adapations, playing the villain in each, Showbiz411 reports.
The Inglorious Basterds actor is allegedly up for the part of Magneto in X-Men: First Class and the unknown villain of Marc Webb's 3D Spider-Man reboot. According to the article, Fassbender can't fit both films into his schedule and will have to pick one or the other.
If Fassbender were to play Magneto, he would be taking on a younger version of the role played by Ian McKellen in three "X-Men" films and acting opposite the recently-cast James McAvoy in the part of Charles Xavier.