Nicole Kidman airs her Grace in the role of Hollywood legend Kelly

NICOLE Kidman has stepped into the elegant shoes of Grace Kelly for an upcoming movie on the late Hollywood star.

AUSTRALIAN actress Nicole Kidman has stepped into the elegant shoes of Grace Kelly for an upcoming movie on the late Hollywood star.

Capturing the glacial beauty and elegance of Kelly, this is the first look at Kidman as the famous blonde princess she plays in Grace of Monaco which is set to be released in 2014.

The $15.8 million movie follows Kelly during the 1960s when her husband, Prince Rainier III, and French President Charles De Gaulle were battling over Monaco's status as a tax-haven.

Directed by Olivier Dahan of La Vie en Rose fame, Grace of Monaco also stars Tim Roth as Prince Rainier and has just started shooting.

Other cast members include Milo Ventimiglia, Paz Vega, Parker Posey and Frank Langella.

Kidman, 45 will take a brief break from filming to fly from Nice to Australia to attend the races at Flemington on Derby Day, November 3.

Kidman will be joined trackside by her parents, Antony and Janelle Kidman. Her arrival is expected to bring plenty of glamour to the first big day of Melbourne's Spring Racing Carnival but she is only expected to be in the country for less than 24 hours.

She will then jet back to France to continue filming. Despite her fleeting stay Kidman said she loved the races and was excited to return to Australia next month.

"My dad used to take me ... to enjoy the spectacle, the fashions, the horses and the crowds."