The 'Factory Girl' star is on the shortlist to star as Lady Annabel Goldsmith in the film adaptation of Douglas Thompson's book, 'The Hustlers', after Ralph Fiennes' sister Martha bought the rights.
A source said: "Sienna would be perfect to play Lady Annabel, who was a great beauty."
The book focuses on how the late John Aspinall, a great friend of Lady Annabel, ran a gaming scam at London's Clermont Club.
After the tome was published last year, Lady Annabel rubbished claims made by Aspinall's former business partner John Burke, who collaborated with Thompson on the book.
Clive Owen is the favourite to play Burke in the movie.
Thompson said: "There has been a lot of speculation about who will play the leads, but Clive Owen is a dead ringer for John Burke."
London's famous Annabel's members only club was named after Lady Annabel and during the 60s she visited the venue every night entertaining guests from Prince Charles to Muhammad Ali.
She later recalled: "I used to be there every night, even when I had three small children to take to school the next day. It was like a second home to me."
TAGS: Movies Sienna Miller