Iron Man 2 director Jon Favreau spoke to E! about the status of Emily Blunt in the film. From what he says it looks like she’s out.
From The Playlist:
“On E!’s post show at the red carpet of some party, Jon Favreau said that Fox exercised its [“Gulliver’s Travellers”] option on Emily Blunt, and that she definitely won’t be in ‘Iron Man 2.’ The reporter was chatting with Favreau and asking about what he can tell them about ‘IM2.’ He said Mickey Rourke isn’t officially cast but that he is a fan. Then she asked about Emily and Favreau said that about Fox exercising their option, which I hadn’t heard before. I thought they were still trying to make it work. He said he was disappointed but didn’t say anything about Scarlett Johansson replacing her or anyone else taking the role.”
This is a shame, Blunt would have been great in the role. I guess we’ll have to see which other actress gets the part of The Black Widow.