Lady Gaga to Star in Barbra Streisand's 'Gypsy'?

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Lady Gaga photographed in 2015.

Remember last month when a photo surfaced online of John Travolta, Barbra Streisand and Lady Gaga hanging out? 

There were so many questions about what they were talking about. Now, we know and it's better than we could have possibly hoped: According to Travolta, Streisand -- who has long wanted to direct a movie version of Gypsy -- wants Lady Gaga to be in it.

Here's Barbra Streisand, Lady Gaga, John Travolta, Ryan Murphy & Kelly Preston Hanging Out

Yup, okay, in. 

"Barbra [has been] wanting to do Gypsy for years, and she’s been developing it, and I think she always visualized Gaga as Louise and maybe me as Herbie.” Travolta told Extra

This is obviously news in its earliest stages, but it's terribly exciting nonetheless. Travolta didn't specify if Streisand herself would play Mama Rose, or if another incredible diva (PATTI LUPONE?) would take the reigns.

Gaga -- while continuing to work on her upcoming fifth album -- has been dipping in her toes in the acting water recently. Her turn on American Horror Story: Hotel will premiere Oct. 7.