Movie-goers may soon be seeing Hollywood superstar Michael Douglas as never before.... in rhinestones, make-up and a wig.

The 63-year-old husband of Catherine Zeta-Jones is set to star in a no-holds barred biopic of flamboyant pianist Liberace.

Liberace, who was born Wladziu Valentino Liberace became a huge star in Las Vegas with live shows during the 1970s and 80s, before dying of AIDS in 1987 aged 67.

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Camping it up: Michael Douglas is tipped to play flamboyant Las Vegas entertainer Liberace

The rhinestone-loving entertainer always denied he was gay, successfully suing the Daily Mirror in 1957 over a Cassandra column that described him as 'fruit-flavoured.'

Matt Damon has reportedly been tapped to play Scott Thorson, who claimed to have been Liberace's partner for five years, and who sued the pianist in 1982 for £60 million palimony after an acrimonious break-up.

Matt Damon is being lined up to play Liberace's live-in lover Scott Thorson

The two actors are teaming up with director Steven Soderbergh the film-maker behind the Ocean's 11 trilogy.

Douglas previously worked with Soderbergh in Traffic and Damon just starred for him in The Informant.

Last night, an insider revealed: 'Michael sees Liberace as a potential Oscar-winning role.'

The insider added: 'It'll be good to see Douglas truly flex his acting muscles for the first time in a while.'

However the movie is not likely to be made any time soon because of Soderbergh's busy shoot schedule, according to Variety magazine.

Michael and wife Catherine, who have been married for over seven years, are enjoying a well-earned break after both filmed a string of movies over the past year.

The actor has a completed a succession of films due out for next year, including The Ghosts Of Girlfriends Past and Beyond A Reasonable Doubt.

Meanwhile, Catherine recently wrapped romantic comedy The Rebound and has another three projects lined up, including a biopic of late Hollywood bombshell Lana Turner.

Superstar couple: Michael with wife Catherine Zeta-Jones