Last month (May14), Smith and his actor doppelganger went head-to-head on The Tonight Show Starring Jimmy Fallon in a long-awaited 'drum-off'. The funnyman, who was clad in the exact same outfit as Smith, lost after the Red Hot Chili Peppers star showed off his unmatched skills.
Now the two have joined forces and are looking to bring a third drummer into the mix, by challenging Ulrich to a battle.
Ferrell tells Spin magazine, "We did talk about another drum-off. With a third person that looks eerily similar to Chad and I. A third drummer out there...
"Lars gets p**sed (angry) because he gets mistaken for both me and Chad Smith. He can settle that score now, too."
Smith adds, "There it is.The gauntlet is down."
Ulrich has yet to respond to Ferrell and Smith's challenge. The first drum-off staged on Fallon's show was used to to raise money for charities Cancer for College and Little Kids Rock.