A fan of period pieces, Keira Knightley has been tipped to star in a new version of My Fair Lady.

The Pirates of the Caribbean actress is reportedly in negotiations to play Eliza Doolittle in Emma Thompson’s adaptation of the classic rags-to-riches tale.

Anne Hathaway and Scarlett Johansson are also being considered for the role, which was originally played by Audrey Hepburn. An insider said, “Keira and Scarlett are the only two real contenders, and Keira’s the favorite. She’s the most natural Eliza people have seen. She has worked on her singing voice for a year and will get better and better.”

The film’s director Danny Boyle, who won an Academy Award for Slumdog Millionaire earlier this year, is also believed to want Keira to get the part.

The 24-year-old actress is said to be “scared” about taking on such an iconic role, but excited about the challenge it would present. Filming is expected to start late next year.