By Selena Hill (staff@latinospost.com) | First Posted: Nov 11, 2013 06:24 PM EST

There's speculation that Katie Holmes may shed her good girl image to take on the role of a hot and sexy billionaire named Elena in the upcoming movie production of "50 Shades of Grey."

According to inside sources, the 34-year-old actress plans on going platinum blonde for the role of "Elena Lincoln," a kinky billionaire who acts as Christian Grey's longtime lover and business partner, reports the National Enquirer.

In the best-selling book, Elena is known as the sexy older woman who introduces Christian to the dark and deviant world of S&M when he was just a teenager.

Not only would the sultry role put Holmes back on the map, it would also shake up the wholesome image she maintained during her marriage to mega star Tom Cruise. She tended to take roles that didn't involve a lot of sex or violence. Since the couple split, she has taken on low-key roles and starred on a Broadway play. For her next big role, she will be acting alongside Meryl Streep and Taylor Swift in "The Giver," reports Life and Style Weekly.

"She's looking at this as the role of a lifetime for her," an insider told the Enquirer. "It will shock a lot of people, but she thinks Hollywood will sit up and take notice."

Other stars cast in the movie include Jamie Dornan, who will play the main character of billionaire sadomasochist Christian Grey opposite Dakota Johnson, playing Anastasia Steele. Victor Rasuk, will play Jose, Ana's trusted photographer friend who has fallen in love with her and Luke Grimes will play Christian's brother Elliot, reports KPopStarz.

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