Watch out Lindsay Lohan, there’s another actress up for your coveted Elizabeth Taylor role!

The competition comes in the form of ‘Transformers’ starlet Megan Fox.

“I’ve been talking to Lindsay Lohan directly, and with her reps, and have been in conversations with other actresses, including Megan Fox,” says Larry Thompson, the executive producer of Lifetime‘s ‘Liz and Dick.’

“It’s a very serious selection,” Thompson continued. “It’s like casting for Hollywood royalty.”

According to a source, Lindsay is still one of the front-runners for the role, but that her probation is “a complication.”

It’s kind of interesting to see two former Hollywood heavy hitters battling it out for a role on a Lifetime movie… like really a Lifetime movie!?!

The filmmaker apparently plans to start shooting the movie in Canada as soon as this spring.

So who do you think should play Taylor?

The sexy, yet irrelevant Megan Fox or the down trotted, but comeback-worthy Lindsay Lohan?