Holmes, 34, is said to be trying her vocal skills and will be starring in a musical now, reported the New York Post.
"Holmes mounted a comeback in 'Dead Accounts', which closed ahead of schedule, but we're told she's interested in finding another theatre project," a source said.
Holmes is speculated to be recording some classic tunes with pianist Peter Cincotti.
The actress had garnered mixed reaction for her Broadway debut in 2008's 'All My Sons'.