It has been reported that the Labour peer - now known as Baroness King of Bow - is already in training for the ITV1 ice dancing competition.
"Oona is a lively character and can't wait to take part. She was in the running for it way before it was announced that Nadine Dorries was in I'm a Celebrity," an insider told The Sun.
"Hopefully she won't change her mind when she sees the reaction the Tory receives."
Baroness King was the Labour party MP for Bethnal Green and Bow from 1997 until 2005 when she lost her seat to George Galloway, who himself went on to appear on Celebrity Big Brother.
She also names dancing as one of her hobbies on her official website.
Dancing on Ice is due to return to ITV1 in the New Year, and famous faces ranging from Beth Tweddle to Joe Pasquale have been linked with the show.
It has also been reported that former Dancing on Ice judge Jason Gardiner is considering a return to the panel.