LOS ANGELES — Spritz some “White Diamonds” in the air: Lindsay Lohan will play Elizabeth Taylor in a Lifetime biopic, the network announced Monday.

The actress will star as the Hollywood icon in “Liz & Dick,” a TV movie based Taylor’s romance with Richard Burton – the only man Taylor loved enough to marry and divorce twice. The couple met on the set of “Cleopatra,” with Taylor playing the eyeliner-heavy queen against Burton’s Marc Antony.

Production is set to begin in early June in Los Angeles, and LiLo might be as happy as she was the day her legal troubles ended last month after five years of court visits and questionable pantsuits, judging from her statement: “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.”

Speculation surfaced in January that the 25-year-old, who revolutionized ankle-monitor fashions, was in talks to play Taylor in the made-for-TV movie.

It’s the latest movement in Lohan’s comeback trail – the troubled actress hosted “Saturday Night Live” in March. She is also slated to guest star on “Glee” next month, playing a meta version of herself while serving as a judge during a nationals competition.

“We are thrilled Lindsay will portray beloved Hollywood legend Elizabeth Taylor,” said Rob Sharenow, Lifetime executive vice president of programming.

“She is one of the rare actresses who possesses the talent, beauty and intrigue to capture the spirit of such a provocative icon.”