A memorial concert including performances from gay stars George Michael and Sir Elton John will be held next year for the late Princess Diana, according to reports.

Her son’s Prince William and Prince Harry are reported to be arranging a concert at Wembley Arena to raise money for her favourite charities.

The date is rumoured to be July 1 2007, her 46th birthday and ten year’s since her death in a car crash in Paris.

A source told the Sunday Mirror: “The princes wanted to organise something very special to mark not only the anniversary of their mother’s death but also her birthday.

“This will be a spectacular day. The boys want to show the world that their beloved mother will never be forgotten.

“Diana adored music and loved going to concerts. Her sons have inherited her passion. William and Harry want this to be a concert that everyone will remember forever.”

Buckingham Palace said a number of options are being considered but nothing has been confirmed.