The model, who was married to Mick Jagger, might compete in the BBC One dancing show when it returns later this year.
"Everyone will want to know if, like the song, she moves like Jagger," a source told the Daily Star.
Meanwhile, Olympic rower Mark Hunter, who won silver at London 2012, revealed that he is hoping for an offer to join Strictly Come Dancing.
"I have had one or two offers of reality shows but none of them really appeal to me at all, although other shows do," he told The Sun.
"There are some that show people in the right way and others where it is just people trying to make a name for themselves. I don't watch those and I wouldn't want to go on them. But I really enjoy the dancing ones - they are amazing."
Producers want to sign up Team GB Olympians to capitalise on the success of the Games. Bradley Wiggins, Victoria Pendleton, Elizabeth Armitstead, Beth Tweddle and swimmer Rebecca Adlington are among those being considered.
Chris Evans and World Snooker Champion Ronnie O'Sullivan have been linked to Strictly Come Dancing.
Photo gallery - Rumoured celebs for Strictly Come Dancing 2012:
Copyright: PA Images Dominic Lipinski/PA Wire