The two Vine stars, which have a combined following of more than 11 million people on the micro-video social platform, are partnering with Awesomeness TV for the film.
Awesomeness TV is an online channel focused on content created by teens. It was acquired by DreamWorks for $33 million last May.
In a statement, Awesomeness TV CEO Brian Robbins said that the movie is "a natural step" for Grier and Dallas since they already have a "dedicated fan base."
There's no word yet on when the movie will be released or what it will be about.
Most of Grier and Dallas' Vine clips are just plain silly. Some of the most popular video segments poke fun at girls taking selfies, moms always thinking that you never have enough sunblock, and spoofing scenes from movies such as "Titanic." Based on Dallas and Grier's Vine repertoire, it's probably safe to assume the movie will be a comedy.
The two Vine personalities have attracted a lot of attention over the past several months. Grier appeared in a segment on ABC's Good Morning America in October, and has more followers on Vine than Justin Bieber, Miley Cyrus and Ellen DeGeneres.
Here's a look at some of the most popular Vine posts from the duo: