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Olivia Newton-John set to star in Sharknado 5 alongside daughter Chloe

Olivia Newton-John is set to star in an upcoming sequel (and before you get excited, no, it's not a Grease revival). 

The Aussie legend signed on to shoot a cameo in the fifth and final instalment of the Sharknado franchise. 

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Newton-John has been cast as a scientist who hopes to defend Australia's shores from an impending aerial shark attack. Sharknado 5: Global Swarming will also see her daughter Chloe Lattanzi star alongside her in a similar role. 

And if you thought the Australian cameos couldn't get any better, Today hosts Karl Stefanovic and Lisa Wilkinson will also make an appearance in the tongue-in-cheek film.

Their roles, however, will be a little less complicated than Newton-John's. Instead of having to play brilliant scientists, they are charged with the task of portraying themselves - by reporting on the freak weather conditions. 

The film's tagline, meanwhile, takes a not-too-subtle dig at US President Donald Trump ("Make America Bait Again!"). 

Principal photography began in February. Several scenes were filmed in Australia,  as well as the UK and Bulgaria. 

Newton-John revealed this week she has once again been diagnosed with breast cancer and would be calling off several tour dates in order to undergo treatment. However, her role in Sharknado 5 was filmed well before the diagnosis. 

Sharknado 5 is due to premiere on Monday August 7.