James Franco & Lindsay Lohan to Collaborate on Nude Photo Shoot?

James Franco seems to have a role in everything these days, including a reported partnership with Lindsay Lohan. The actor/student/Oscar co-host is allegedly joining forces with LiLo for a very risqué photo shoot with noted celebrity photographer Terry Richardson.

Lindsay, 24, reportedly signed a $2.1 million dollar deal to pose in the flesh in an explicit photography book alongside James, 32, shot by the provocative photog, Contact Music reports.

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According to the site, Lindsay's shoot is being compared to Madonna's infamous 1992 book, Sex, and the photos were shot last Saturday.

The photos seems like something James may on, he has posed as a drag queen and guest starred on General Hospital, but we don't know if this is the best career move for Lindsay?

While this report also sounds highly-unlikely, the fact that James and Terry are buds, suggests there may be some truth behind it. As far as Lindsay's role, we aren't sure what we believe, but she has also worked with the photog.

Catch the picture of James and Terry below that the photog posted on his website last night from the Academy Awards. Do you think the three-way collaboration is happening?