Idina Menzel Is Open to Appearing in 'Wicked' Film Adaptation: 'Put a Little Vaseline on the Lens'

Idina Menzel isn't ruling out a return to Oz!

While chatting with PEOPLE about her new QVC clothing line titled Encore, the actress and singer, 50, also opens up about the forthcoming film adaptation of Wicked and how she would be interested in making an appearance in the project.

"If they asked me to do it at the age of 51, I would say, sure — just put a little Vaseline on the lens, throw some green makeup on me, use a little CGI and I'll look gorgeous," Menzel tells PEOPLE with a laugh.

"But no, it's all good. That ship has sailed," adds the star, who originated the role of Elphaba in Wicked on Broadway between October 2003 and January 2005.

In the original stage production, Menzel starred opposite Kristin Chenoweth, who portrayed the role of Glinda.

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Universal's film adaptation of the Tony-winning Broadway musical ⁠— which is based on the 1995 novel Wicked: The Life and Times of the Wicked Witch of the West by Gregory Maguire ⁠— was first announced all the way back in 2016.

Jon M. Chu, the mastermind behind Crazy Rich Asians and the film adaptation of Broadway's In the Heights, was later tapped to helm the Wicked movie in February 2021. Then, in November 2021, Cynthia Erivo and Ariana Grande were announced as the leads Elphaba and Glinda, respectively.

Stephen Schwartz and Winnie Holzman, who co-wrote the music and lyrics to the Broadway show, are adapting the screenplay, while Marc Platt will return as a producer.

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Continuing to speak with PEOPLE, Menzel says that both Erivo, 35, and Grande, 28, are "good friends of mine," and she believes the film adaptation is "in very good hands."

Asked what advice she'd give the two stars, Menzel says she would tell them, "Just to enjoy the moment, enjoy the process and remember the legacy of the show and how many young people it resonates with and speaks to."

"It's allowed for so many young people to really embrace their power and what makes them really special in the world," the Broadway icon adds. "[So I would remind them] just to keep that in mind every day when they're on set, and to remember why they're doing it and who they're doing it for."

Last month, director Chu, 42, teased more details about the project, including that it would now be released in two parts.

Splitting the film apart, Menzel tells PEOPLE, is something she believes will only be beneficial, as it will allow every part of the story to unfold onscreen.

"I think it's great," she says. "The novel ... was one of my favorite novels, and I had read it before I was ever cast in the show. It's rich in detail."

"So the more that we can actually discover all that Wicked is, I think, the more beneficial [it will be] to the story," she adds. "It'll be exciting."

The first Wicked film will debut in theaters in December 2024, while the second part will hit screens a year later for the 2025 holiday season.