Who's afraid of Lindsay Lohan? Not Lifetime.

Following months of reports, Lifetime confirmed Monday that Lohan will play Elizabeth Taylor in its TV film Liz & Dick.

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

Added Lohan: "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."

The film, which starts production in June, focuses on Taylor's tumultuous, high-profile romance with Richard Burton, who has yet to be cast.

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Reports of Lohan's casting first surfaced in January. In March, she confirmed on the Today show that the project was in the works. The role is just the latest in Lohan's comeback after years of legal trouble. (Her probation, stemming from a 2007 DUI, ended March 29.) She hosted Saturday Night Live last month and will play herself as a Nationals judge on Glee.Do you think LiLo will do Liz justice? Who should play Dick?