Xueqi, 66, was rumored to be cast as a replacement for Andy Lau, who was originally eyed to join the superhero blockbuster film. Xueqi was previously spotted talking to 'Iron Man 3' chief producer Dan Mintz before his casting news emerged.
Lu, who was often employed by The Mandarin (Ben Kingsley's character), then exposed himself to small doses of radiation so that he can endure a massive barrage. He later transformed into Radioactive Man who planned to eventually take over the world.
Directed by Shane Black, 'Iron Man 3' still has not unveiled its plot. However, the story will be loosely based on Warren Ellis' six-issue 'Extremis' comic book series, which presents a new origin story that focuses on nanotechnology.