According to Skynews, Madonna is planning to play a transvestite in a new Hollywood film.

And according to The Sun (the UK's biggest selling newspaper), the Material girl is high on the part, she's agreed to do it for free. The paper also reports that Maddonna has signed up to play Candy Darling, who starred in a series of Andy Warhol's experimental films in the 1960s.

She was also the inspiration behind the Velvet Underground classic "Candy Says" and Lou Reed's solo hit "Walk On The Wild Side".

A source told the paper:

"Madonna has been desperate to make a film where she can earn respect for her acting abilities. She is still trying to shake off the bad publicity from the movie Swept Away. She sees this as her big chance. She said she would do anything for the part and has agreed to work for free."

Madonna secured the part after a visit to New York last month to meet with movie agent Bryan Lourd, to discuss future plans for her film career.