The Leap Year star is in negotiations to appear in the upcoming flick as Jason Segal's girlfriend, according to the Hollywood Reporter.
Adams could be in the movie which tells the tale of the furry puppets, including Kermit and Miss Piggy, working on a film in an attempt to save a studio.
The 36-year-old, who is best known for her role in Enchanted, will start shooting for the movie in Los Angeles in November if her role goes ahead.
The Town actor Chris Cooper is also heading for a role as a greedy villain who wants to buy the movie studio, only to tear it down.
The film is set to hit cinemas in December 2011.