By Stephen M. Silverman
Updated January 21, 2003 12:00 PM

Madonna has apparently been swept away by the guest-star craze on “Will & Grace” and will make her episodic TV series debut on the NBC hit during the May ratings sweeps, the Associated Press reports.

Details of what she will do on the show — or even the date of her episode — have yet to be revealed.

Demi Moore and Minnie Driver also will guest star on the sitcom in separate February episodes, the network announced. Moore will play a former babysitter to Jack (Sean Hayes), and the two will be reunited. Driver’s role will be that of a romantic interest to Karen’s former husband, who then moves in on Jack. (Yeah, go figure.)

In other TV news, NBC has hired Cybill Shepherd, 52, to play Martha Stewart in its two-hour movie for May, “Martha Inc.: The Martha Stewart Story,” based on the book by New York Post business columnist Christopher Byron, who told his own paper that he’s delighted by the cast.

“The second I heard her (Shepherd) name, I said ‘That’s it,'” Byron said, adding that “there’s a huge physical resemblance, ” between the two women. He called Shepherd “an amazingly talented actress, and she’ll do a great job. It’s brilliant casting.”

And in upsetting TV news, Variety reports that it’s looking likely that the 2003-04 season will be the last for “Frasier.” That would make it an 11-year run, the same as “Cheers.”