The Bee Gees are set to have a stage musical based on their music.

Universal Pictures have announced their theatre division has come to an agreement with surviving member Barry Gibb, as well as the estate of the late Robin Gibb, and Yvonne Gibb - the widow of the late Maurice Gibb - to develop a musical based on the life story of the three brothers.

The musical will feature the band's iconic music, and will be executive produced by Barry, 71, who claimed the musical was a ''wonderful opportunity'' for his family.

In a statement, he said: ''This is a wonderful opportunity for our family. I'm personally very excited to be a part of the creative process along with Yvonne and Dwina. It's another adventure for us and a chance to throw the spotlight on all my brothers and finally the real story of us will be told. It's an honour to be working alongside the people I most respect. I can't wait to get started!''

The Bee Gees formed in 1958, and had hits with tracks such as 'Stayin' Alive', 'Night Fever', and 'How Deep Is Your Love'.

Following the death of Maurice in 2003 at the age of 53, Barry and Robin decided to retire the band's name, before announcing they would reunite in 2009 to perform once again.

The pair enjoyed a three-year comeback until 2012, when at the age of 62, Robin unfortunately passed away from a prolonged battle with cancer and other health problems.

For Universal, the proposed musical follows the success of other traditional bio-musicals, including 'Jersey Boys and Beautiful: The Carole King Musical'.

Also lined up for musicals are artists such as Donna Summer, Tina Turner and Cher.