Loose Lips

Sascha Baron Cohen and Will Ferrell will play Sherlock Holmes and Watson, respectively, in an upcoming as-yet-unnamed project. Bet you $5 that we'll see somebody's junk in that film. • Famously drug-addled former child star Tatum O'Neal probably won't do jail time for her crack bust last month. She plead guilty to disorderly conduct today and the judge ordered her to do a smidge of rehab and pay a small fee. If she complies, no jail for her. • Are Ashlee Simpson and Pete Wentz expecting boy? Word on the street is their baby registry is full of blue items. [Just Jared, TMZ, Dlisted]