Katie Holmes to Launch Baby Clothing Line for Armani

Tom Cruise let Katie Holmes off her leash long enough to launch a clothing line. (AP Images)

Actress Katie Holmes is set to launch a baby clothing line for Armani at the end of the year, reports OK! magazine. Mrs. Tom Cruise reportedly closed the deal recently and critiques are already skeptical over the partnership between such a high fashion house and a non-professional designer.

But that isn't stopping the Mad Money actress. "Right now this is Katie's life," a source told OK! "She is extremely excited about it."

Holmes' muse is none other than her 2-year-old daughter Suri. "The first clothes will all be things she could imagine Suri wearing," said the source.

"The Katie Holems for Armani collection will be comparable in price to the Armani ready-to-wear line," continued the source. "It will be sold in stores like Saks, Barneys New York and Neiman Marcus. We're talking very upscale: less expensive than Armani Prive but more than Armani Exchange. These are going to be very high-quality clothes. We're not talking cheesy Jessica Simpson stuff."

This won't be Holmes' only designing endeavour. According to the magazine, the first line will roll out over the course of two years and will follow with a collection for older children in fall 2009 and a handbag and women's collection in fall 2010.

Wow, Cruise must be getting pretty antsy that his wife is doing her own thing!

The Bodog Sportsbook has tons of celebrity betting and entertainment odds! Check them out today!