Iconic sex symbol RAQUEL WELCH and Elvis’ ex-wife, PRISCILLA PRESLEY, are mixed up in a bizarre Hollywood man swap!

Raquel is dating Priscilla’s ex-beau, Nigel Lythgoe, the execu­tive producer of “American Idol” and a judge on “So You Think You Can Dance.” Incredibly, Priscilla dumped Nigel a few years back so she could be with Raquel’s ex-husband, restaurateur Richard Palmer!

“The romantic musical chairs have finally settled, and Raquel and Nigel are now a couple re­sulting from this bizarre ‘partner swap’, ” a Hollywood source told The ENQUIRER. “They started dating in early September, with Raquel knowing full well that Nigel used to date Priscilla, who then moved on to Richard.

“Raquel didn’t blink an eye.”

What makes the situation even more hilarious is that Raquel was rumored to have had a tryst with Elvis!

“Raquel and Nigel think the whole situation is a hoot,” said the source. “To some, it might seem a bit twisted, but it’s not like that at all.

“The bottom line is that they really get along great together.”

Raquel, 73 – who sent millions of men’s hearts aflutter when she played a sexy cave woman in a bikini in 1966’s “One Million Years B.C.” – and Nigel, 64, appear to have a lot in common.

“Both loved dancing as children and started in showbiz young,” noted the source. “They were even surprised at how fast their friendship blos­somed into a romance – and it’s definitely heat­ing up.”

Raquel, who’s been married four times, di­vorced her last hubby, Richard, in 2005. Nigel, who officially divorced his wife Bonnie in 2010 after nearly 40 years of marriage, dated Priscilla, 68, between 2006 and 2009.

Meanwhile, in 2010, Priscilla rebounded from Nigel and be­gan seeing Raquel’s ex, Richard, whom she wound up dumping a few months later. Raquel and Nigel were spotted out in public together on Sept. 20 at a pre-Emmy Awards party at Fig & Olive in Los Angeles. On Oct. 19, the couple enjoyed a romantic dinner in the private Garden Room at Soho House in West Holly­wood.

According to the source, Raquel and Nigel think the revolving relation­ships of their past was just fate bringing them closer to­gether.

“Raquel finds Nigel fascinating and a complete English gentleman, and he just worships the ground she walks on,” said the source. “Even though Raquel is almost 10 years older than he is, she still looks great – even younger than Nigel, in fact.

“They both like go­ing out to shows and movie premieres and often stay up all night talking about old Hol­lywood.

“Raquel and Nigel were just as surprised as some of their friends that they got to­gether, but the chemistry’s good, so they’re just going with it.”