"This show would also be a chance for them to clear up any leftover questions and put to bed any remaining suggestions of a family feud," explains the source.
Once upon a time, Lisa Marie revealed she was against doing reality television. Although she'd been asked to do it, she said "never gonna happen....I'm so anti. I turn them off."
As such, out of respect for the late star, the rumoured show would be billed as a 'limited docuseries', more aligned with recent musician-based documentaries as opposed to Keeping Up With The Kardashians or The Real Housewives franchise.
Speaking of the Kardashians, our insider says Kris Jenner has offered to help bring the project to fruition.
It's not a total surprise, given the Presleys have a long history with the Kardashian-Jenner clan.
Priscilla dated Kris' first husband, Robert Kardashian, in 1973.
More recently, Kim Kardashian purchased and demolished Riley's childhood home.
And of course, Kris' second husband, Caitlyn (nee Bruce) Jenner, was married to Linda Thompson, who dated Elvis after her and Priscilla divorced!