This is the cultural event of the trailer-park season.
Smith was most famous for her larger-than-life personality, breasts and bank account - thanks to her marriage to an 86-year-old billionaire - before she died of an alleged drug overdose in 2007.
The opera, which will play at London's tony Covent Garden, will be a fable, not a farce, about celebrities in the 21st century.
"It is not going to be tawdry," said Elaine Padmore, Covent Garden's Director of Opera.
"It is going to be witty, clever, thoughtful and sad."
The opera's libretto will be written by Richard Thomas, who also penned the equally profound "Jerry Springer: The Opera."
We're not sure when tickets will be available - but whenever it is, it isn't soon enough.