The pair will star in Leif Tilden's debut feature film, which has Conviction star Sam Rockwell attached as executive producer, according to Variety.
The movie centres around a teenager (Booth) who attempts to deal with the death of his closest friend by channeling all his energy into becoming a world class runner.
Crudup will play the young man's coach and confidante.
Life at These Speeds is based on the novel of the same name by Jeremy Jackson.
Rising star Booth is best known for his appearances in the BBC's Great Expectations and Christopher and His Kind.
Veteran actor Crudup will soon appear in Greg Kinnear's comedy Thin Ice.