The 1978 cult classic is receiving the remake treatment, courtesy of producers Roy Lee (The Ring) and Steven Schneider (Paranormal Activity). While a writer has not been announced, commercial director Ash Bolland will be making his directorial debut. The original film was directed by master of disaster Irwin Allen (The Poseidon Adventure, The Towering Inferno...) and featured Michael Caine in the midst of an attack of killer bees.
Given the plot, I can't imagine this movie taking itself very seriously and I wouldn't expect to see Michael Caine return as he has apparently disowned the original film. Also, don't be surprised if we have a "The Swarm in 3D" announcement in the near future.