Why not?  Just about everything else from my childhood has had its reincarnation on the big screen, why not Star Blazers?  (Although let's hope and pray that this time they rely a little more on the script and a little less on the effects; not all Americans are drooling idiots fascinated by bright, shining objects, Mr. Hollywood!)  The link below will take you to a great site, called Ain't It Cool News, where there are some rumors floating around about a possible live-action movie about the Star Force and their fight to get to Iscandar and back in just one year.  I could sum it all up for you, but I'll let you read for yourself.  Let me just say two things, though:
 

1. 1) I think the choice of ship is brilliant!  Even if this is just a rumor, how cool to think about the Arizona flying high to fight another day, this time for the sake of the entire planet, not just American economic interests in the Pacific (whoa, slow down there, Cynic Boy!).  This is especially interesting when you think that the Yamato, the ship that resurfaced in the show, was sank by American warplanes and that the Gamelons are patterned after us dirty Americans.  Makes you wonder if the Gamelons in the movie would be patterned on Japanese businessmen..........
3. 2) I am not trying to say anything, and I wouldn't want to influence anyone, but Mr. DeMille, I am SO ready for my close-up!  Not that I could pull off Desslok, but maybe some little henchman, the one who looks up scared from some random console and shouts, "Leader Desslok, the Star Force wasn't destroyed!  They're still there!"  That would be WAY cool!