Steven Spielberg and Stephen King are developing a limited series based on King's just-released supernatural thriller "Under the Dome," reports Variety. DreamWorks TV has optioned the book and is looking to set it up as an event series, likely for cable.

Spielberg, King and DreamWorks' Stacey Snider will executive produce along with DreamWorks TV chiefs Darryl Frank and Justin Falvey.

The book revolves around the drama that unfolds after an invisible force field suddenly descends on a small vacation town in Maine. As the locals fight for their survival, the town descends into warring factions led by enigmatic characters.

DreamWorks is starting to meet with writers for the project.