During an interview about her new film "The Guilt Trip," Time reports that the Funny Girl and "Yentl" Oscar winner stated she was considering casting Lady Gaga as the lead in Gypsy. As previously reported, Streisand will direct and star as Rose. Gaga would be cast as Louise, who transforms into the notorious Gypsy Rose Lee by the end of the musical.

Academy Award-winning screenwriter Julian Fellowes has been enlisted to adapt the screen remake of Gypsy. Streisand is developing the film along with Joel Silver ("Sherlock Holmes," "The Matrix") for Universal Pictures.

Streisand also told EW in a separate interview that the creative team was still working out one rights issue with the film. She also brushed off talk that she's too old for the role. "What's that got to do with anything?," she asked. "How old do I look to you? ...Age is a number."

During her recent concert tour, Streisand performed several songs from Gypsy to acclaim, including "Rose's Turn."

Gypsy has music by Jule Styne and lyrics by Stephen Sondheim. Arthur Laurents penned the book.