Travolta, whose early career included roles in Broadway's Grease and Over Here, told Extra, "I called Barbra and said, 'Lady Gaga is next door on her "American Horror Story"… I met her, she's lovely, I really think you should meet her, she’s a visionary like you.' So I set up a dinner, and Ryan Murphy came as well. And we just had a great time, exchanging ideas and feelings about life, and it went about six hours."

Streisand caused a commotion this past summer when she posted a photo of that evening with Lady Gaga, who has been rumored to play stripper Gypsy Rose Lee, Travolta, Kelly Preston and Murphy, the producer of "Glee."

Travolta also spoke about the possible "Gypsy" film, explaining, "Well, yeah, I mean Barbra 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."

During her 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.

Broadway Roses have included Ethel Merman, Angela Lansbury, Tyne Daly, Linda Lavin, Bernadette Peters and Patti LuPone. Rosalind Russell starred in the Hollywood film; Bette Midler played Rose on TV. Jack Klugman created the role of Herbie on Broadway; Karl Malden played the role on the silver screen.