Sylvester 'Doctor Who No. 7' McCoy could play Bilbo Baggins

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Dec 14, 2012, 4:31 PM EST

Sylvester McCoy, who was edged out by Ian Holm for the role of Bilbo Baggins in the Lord of the Rings trilogy, may get a chance to show us his furry feet after all. An inside source has confirmed that McCoy will play "the second biggest lead" in the upcoming Hobbit prequel opposite Ian McKellen and Andy Serkis.

Glen Ferris of screenrush bumped into McCoy at the theater last night, and though the actor apparently was mum about the rumor, Ferris did make it sound (if we're reading his report correctly) as if he was made aware DURING the outing that McKoy had been cast for a major role in The Hobbit. So who was that inside source? A friend of McCoy's who was also at the theater?

Ferris doesn't say. And McCoy's agent would only respond with an enigmatic "no comment." But since McCoy had been a close second to Peter Jackson's final choice of Bilbo, Ian Holm, Ferris believes that the former Time Lord will be given a second shot at the role, "perhaps as an older version of Baggins recounting the adventures of his early years."

What do you think are the chances of this happening? And if it did happen—would you like it?