Leonardo DiCaprio and Carey Mulligan will star in director Baz Luhrmann's upcoming adaptation of the F Scott Fitzgerald novel, to be released in the spring of 2013.
Cast member Adelaide Clemens claimed that Luhrmann has been approached by several big-name stars to write new material for the project.
"They have some new music that's going to be added to the film," she told Indiewire.
"Some pretty huge artists have approached Baz and are writing songs for the film, and I don't think Warner Bros are going to turn down Prince and Lady Gaga knocking down your door… I don't know if I'm allowed to say that."
The Great Gatsby was originally set for a Christmas release, but has now been pushed back to May 10, 2013.
Lady GaGa is currently working on ARTPOP, her third studio album and the follow-up to 2011's Born This Way.
Watch a trailer for The Great Gatsby below: