In a recent interview with MTV Movies, Pegg shed some light on his upcoming projects, including another collaboration with Frost. From the article:
Don’t confuse this one with Simon and Nick’s next Edgar Wright collaboration. This one is all theirs. While the details were few and far between from Pegg, he did reveal the title and a little of the plot. “It’s called ‘Paul’ and it’s a road movie about two British geeks in America.” Pegg added that the film will be shot here in the States.
No director has been set for the project, but Pegg’s keeping busy; filmgoers will soon be able to see him in Run, Fat Boy, Run, and he recently wrapped a role in next year’s How to Lose Friends and Alienate People.
Source: MTV Movies