Looks like it:  http://www.variety.com/article/VR1117985365.html?categoryid=13&cs=1

Man, I'm so happy for the success that Bioshock has had.  And a tiny bit jealous, I'll admit -- though I've no regrets about the course my life has taken since leaving Boston, particularly in the form of my 2 little boys (we didn't really want to raise kids in Boston).

But a movie?  How cool is that?  I don't know if Gore Verbinski will do a good job with it, but that's a darned sight better than Uwe Boll.  Relatively few games have the kind of narrative depth to really support a movie, and I certainly consider Bioshock in that category.  Hmm, maybe after I come down off my GTA addiction I'll do a second playthrough of Bioshock on Hard to get all the Achievements....