After much speculation, Lifetime has confirmed that Lindsay Lohan will play iconic actress Elizabeth Taylor in their biopic about the late actress’s life.

Lifetime Networks’ executive vice president of programming Rob Sharenow said in a released statement, “We are thrilled Lindsay will portray beloved Hollywood legend Elizabeth Taylor. She is one of the rare actresses who possesses the talent, beauty and intrigue to capture the spirit of such a provocative icon.”

In the movie, called “Liz and Dick,” Lohan will play Taylor during her famed relationship with actor Richard Burton. The two fell for each other when they met on the set of “Cleopatra.”

They left their spouses, married, divorced, remarried and divorced again! (Sounds like Brad Pitt and Angelina Jolie on steroids)

In a statement, 25-year-old “Mean Girls” actress Lindsay said of landing the role, “I have always admired and had enormous respect for Elizabeth Taylor. She was not only an incredible actress but an amazing woman as well. I am very honored to have been asked to play this role.”

Lindsay is also set to star in an upcoming episode of hit TV show “Glee” where she will play herself judging the glee club at the national show choir competition.

Looks like Lindsay’s so-called ‘failed comeback’ on Saturday Night Live paid off after all.