A source tells PEOPLE Denise Richards "has wanted to join the show for years"

There’s a new potential housewife in town!

A source tells PEOPLE that actress Denise Richards is in talks to join the cast for the ninth season of the Real Housewives of Beverly Hills.

“It’s not final yet, it’s very close,” says the source. “Everyone is really excited about the possibility of having her on board!”

Richards, 47, is a mother of three daughters: Sam, 14, Lola, 13 and Eloise, 7. (Sam and Lola’s dad is Richards’ ex husband Charlie Sheen.)

The Wild Things star has been rumored to be in discussions with producers for years, but “the timing was never right,” says a second insider close to the show. “Denise has been wanting to join the show for a long time.”

Denise Richards
| Credit: Peter Kramer/Bravo/NBCU Photo Bank via Getty
The Real Housewives of Beverly Hills season 8 cast
| Credit: Tommy Garcia/Bravo

“She’s a huge Housewives fan and watches all of the shows,” says the insider. “And she has close relationships with many of the women in real life, including Kyle Richards and Lisa Rinna. The timing was never right for her in the past, but the producers needed to shake the dynamic of the show up after a season without much conflict. She’s going to be a great fit. She’s not afraid of the drama. And she lives a glamorous, Hollywood life — which the show looks for.”

A rep for Bravo had no comment.

Richards is no stranger to reality television. Her show Denise Richards: It’s Complicated, ran for two seasons on E! before ending in 2009.

Denise Richards and Kyle Richards on Watch What Happens Live with Andy Cohen
| Credit: Bo Powell/NBC/NBCU Photo Bank via Getty
Lisa Rinna and Denise Richards
| Credit: Stefanie Keenan/WireImage

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RHOBH premiered on Bravo in 2010. It was the sixth installment of Housewives franchise the network developed, following Orange County, New York City, Atlanta, New Jersey and the now-cancelled D.C.

In addition to Rinna and Richards, the show currently stars Lisa Vanderpump, Erika Girardi, Dorit Kemsley and Teddi Mellencamp Arroyave.

All are expected to return next season, which will premiere on Bravo in the winter.