Madonna is said to play transvestite Candy Darling in
Untitled: Maddona Candy Darling Project, according to
The Sun.
Darling starred in a series of Andy Warhol's experimental films in the 1960s. She was 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."