Rolling Stones front man Mick Jagger and his production company Jagged Films are looking to team up with 20th Century Fox to produce a biopic of Elvis Presley, sources tell FOX411's Pop Tarts column.

Insiders say the project is in a very preliminary stage.

In an interview last year, Elvis’s daughter Lisa Marie said she hadn’t been happy with representations of her iconic father to date.

"There's not been anything done properly with him yet, you know, that has satisfied me in terms of capturing everything,” she said. “It will happen, though."

There has been industry chatter about a potential Presley biopic over the past few years, with the Hollywood Reporter calling it a race between hopefuls in November 2011. Everyone from “Idol” creator Simon Fuller to billionaire Steve Bing are said to have tried to push the project forward, but numerous roadblocks involving the narrative and intellectual property have stood in the way.

Apparently it may take someone with Mick Jagger's rock-and-roll cache to make it happen.

“He was a unique artist – an original in an area of imitators," Jagger reportedly said of Presley.

A representative for Fox was not able to confirm any further details, except that the studio still has “Last Train to Memphis,” which has been in development for about a decade. Based on the 1995 biographical book by Peter Guralnick, “Last Train to Memphis” explored Elvis' lifelong passion for music from blues and gospel to Bing Crosby and Mario Lanza, his compelling affection for his family, his intimate relationships, and the “mystical faith” Presley had in his music.

Reps for Jagger and Jagged Films, as well as reps for Elvis’ wife Priscilla Presley and daughter Lisa Marie Presley, did not respond to a request for comment