TMZ has the scoop:

TMZ has obtained a copy of a letter Vivid Entertainment honcho Steven Hirsch sent to Prejean's lawyer, Charles Limandri. Hirsch is asking to acquire the rights to distribute "erotic footage that Carrie Prejean, former Miss California, produced for her boyfriend following their four (4) day rendezvous in February 2007"...In the letter, Hirsch tries tempting Carrie with this: "We would like to present Carrie with several options where she could certainly earn millions of dollars."

TMZ spoke with attorney Limandri last night, and it looks like Carrie's not biting. Limandri says Carrie's mom/rep says, "No, at any price."

Oh man, this is getting mythic. Carrie Prejean has almost literally been offered a multi-million dollar deal with the devil. Not for "new work," mind you, but just for signing a release. In these uncertain economic times, being offered millions of dollars to betray everything you allegedly believe in must be exquisite torture.

If this were a Choose Your Own Adventure novel, my first pick would be for Carrie Prejean to continue to refuse any and all porn offers and re-brand herself as the face of Christian sex, reclaiming her homemade diddling videos as a legal-in-God's-eyes adherence to sexual abstinence until marriage. (However, I don't think Prejean ever made any noise about abstinence, and was most likely banging the guy she sent the vids to, so my second pick would be for Carrie Prejean to keep refusing any and all porn offers until a bidding war drives her price into the tens of millions, which she will accept, giving half of the money to the National Organization for Marriage and the other half to Sarah Palin's 2012 presidential campaign. I know this would be putting money in the pockets of my enemies, but the Prejean vids are going to be leaked to the masses whether she signs off or not, and it just doesn't seem right that she should come out of this awful betrayal by her would-be boyfriend without some consolation-prize compensation, to do with what she pleases...)