The show, which has been a massive ratings hit for ITV and home to tabloid C-listers, is desperate to sign up the 25-year-old breast implant model for the jungle series.
However, according to a report in The Sun, Jordan, whose real name is Katie Price, is demanding twice the normal fee of £50,000.
"Producers may be prepared to pay -- because they know she will be the star of the show," a source at the programme told the paper.
As well as Jordan, ITV is also looking to sign up sadly declined former England football star Paul Gascoigne, 35. However, Granada, which makes the show, has been unable to get him to sign on the dotted line with only four weeks to go before the programme is due to air.
According to The Sun, Gascoigne was concerned as to whether the show would really help him improve his image. Gascoigne would have followed in the footsteps of former England cricketer Phil Tufnell, who won the show last year. Both men are recovering alcoholics.
Those who have signed up to appear on the third series are believed to include former Sex Pistol John Lydon, 47; TV presenter Kerry McFadden, 23; singer Peter Andre, 30; ex-Boyzone star Shane Lynch, 27; and George Best's wife Alex, 31.
The second series gave the public and overdose of 'Changing Rooms' presenter Linda Barker, who has gone on to become the most annoying presenter by appearing in seeming countless ads for brands including Currys and DFS.
The third series of ITV's flagship entertainment programme is being sponsored by First Choice Holidays.
The deal includes broadcast sponsorship of all coverage on ITV1 and ITV2, sponsorship of a dedicated website and the exclusive use of interactive coverage and text and premium-rate phone voting services.
First Choice is also extending its broadcast sponsorship to include in-store promotions and viewer competitions. The travel firm becomes the second sponsor for the show -- V energy drink sponsored the second series.
The deal negotiated by First Choice's media agency Walker Media is worth more than £1m.
Last year, the two-week series attracted audiences of 9.5m with a 39% share of viewers.
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