The talkRADIO host – who came third on I'm A Celebrity – could be heading to Celebrity Big Brother.
The all-female launch to mark 100-years since women won the right to vote in the UK kicks off in January, and the Celebrity Big Brother cast remains a much guarded secret.
Male famous faces will be added to the line-up following the initial launch.
Iain, who clashed with his campmates on I'm A Celeb, is a regular on Big Brother's spin-off Big Brother's Bit On The Side which is hosted by Rylan Clark-Neal.
The 44-year-old claims he has been offered a slot on Celebrity Big Brother four times before and now he's ready to head to the mad house for a substantial fee.
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“I approached them. I know it’s a freak show. [But] if the money was right, I'd do Big Brother”
Iain Lee
"I had been offered it four times," he said on his radio show.
"This time, due to certain circumstances, I approached them. I know it’s a freak show.
"[But] if the money was right, I'd do Big Brother."
It has been reported that Iain used his I'm A Celebrity fee to pay for his mum's care home bills.
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Iain's mum Linda, 66, has Multiple sclerosis and requires round-the-clock care.
The lifelong condition can cause serious disability and greatly affect movement and vision.
Iain – who at one point was the favourite to win I'm A Celebrity – has been very open about his mum's illness and the struggle his family has endured.
"My mum has been in a care home for eight years and she’s 65," Iain explained on his radio show last year.
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"She's got really bad MS, she can’t do anything, she’s incontinent, she can't stand or walk or feed herself and is completely dependent. Because she had £100,000 in her savings…because she had paid off her mortgage she has to pay for her care.
"She had £350,000 in her bank account – my kids' inheritance – and she had to pay for her care.
"It's just under £1500 a week. Imagine that. She has burnt through the majority of that £350,000 in eight years so you do the math."
Celebrity Big Brother kicks off on January 2 at 9pm, on Channel 5.