Michael Phelps: Reality TV Star?

Olympic swimming hero Michael Phelps holds up a TRL-branded speedo at MTV Studios in Times Square on Wednesday in New York City.

In related news, Demi Moore and husband Ashton Kutcher have approached Phelps about doing a reality show.

“It will focus on Michael‘s new life and fame,” an insider tells Life & Style. “Demi and Michael were really chummy at the MTV Video Music Awards after-party in September. She and Ashton are amazed by how humble and down-to-earth he is. They think America will fall in love with him.”

One thing is certain: Michael, 23, is already in love with Demi and Ashton. “He loved Ashton‘s Punk’d show,” adds the insider. “And he’s had a crush on Demi since he was a kid!”

15+ pictures inside of Michael Phelps @ TRL…