NOW, FOR MY NEXT TRICK: Street magician Steve Gray (Jim Carrey) gesticulates magically to perform yet another spectacular illusion before the crowd of onlookers. Steve is so successful with his street act, that he is able to draw away the people who would have attended the headlining show given by Burt Wonderstone (Steve Carell, not shown) and Anton Marvelton (not shown) at Bally’s. In order to save their reputations, Burt tries to outdo Steve’s illusions in the street.

Back in 2003, Jim Carrey was upstaged as the title character of Bruce Almighty by scene-stealing Steve Carell who was the TV newscaster Evan Baxter. Consequently, Carrey wasn’t even around for the sequel, Evan Almighty, a spinoff which was all about Carell’s expanded role.

Turnabout is fair play, and a decade later we find Carell overshadowed here by a rejuvenated Carrey. The viewing public benefits, because the two have reunited and they’re better than ever as magicians who are competing to outdo each other in an escalating game of one-upmanship.

Directed by Don Scardino (NBC-TV’s 30 Rock), The Incredible Burt Wonderstone also features a stellar supporting cast that includes Alan Arkin, Steve Buscemi, Olivia Wilde, James Gandolfini, Brad Garrett, and Jay Mohr, as well as amusing cameo appearances by David Copperfield, CNN’s Erin Burnett, and MSNBC’s Richard Wolffe.

The picture’s premise is easy to follow. Burt Wonderstone (Carell) and Anton Marvelton (Buscemi) have been doing magic tricks together since childhood, when they first teamed up to entertain their classmates. Thirty years later, they are sharing top billing on the marquee as “Burt & Anton: A Magical Friendship at Bally’s in Las Vegas.”

However, they’ve come to despise each other, primarily because of Burt’s massive ego. As a result, their act has grown stale, and this gives the street performer Steve Gray (Carrey) a chance to steal their thunder with his bizarre stunts, such as not blinking for days on end.

When the newcomer captures the public’s imagination, attendance at Burt and Anton’s shows declines, and it’s not long before they feel the pressure to match Gray in outrageousness. But after Anton breaks his ankles and some ribs during their first dangerous stunt, Burt is forced to go up against Gray by himself.

The ensuing competition in illusions contrasts Carrey’s over-the-top antics with Carell’s droll tongue-in-cheek sense of humor, and in this critic’s opinion, Carrey’s sight gags are much better than Carell’s dry wit. The battle of competing comedy styles is won hands-down by the rambunctious rubber-faced Carrey!

Excellent (***½). Rated PG-13 for profanity, sexuality, dangerous stunts, and a drug-related incident. Running time: 100 minutes. Distributor: Warner Brothers.