A few years back there were rumblings that General Motors was looking to axe the Cadillac Escalade and replace it with a crossover SUV based on the Lambda platform, a plan devised in response to the financial crisis at the time and a spike in world oil prices. Work on the new 7-seat Cadillac crossover had commenced but then GM entered bankruptcy proceedings and everything was put on hold.

Fast forward to today and GM is in a much better position financially. So much better, in fact, that the automaker is now thought to be launching both a replacement for its Cadillac Escalade as well as the new crossover.

This means that Cadillac’s future lineup will feature three high-riding models, the current SRX, new 7-seater crossover, and a replacement for the Escalade.

Speaking with Car and Driver, Cadillac global marketing chief Jim Vurpillat acknowledged that there was room in the luxury marque’s lineup for another SUV to slot in between the SRX and the Escalade. The SRX starts at $34,430, while the Escalade is priced from $63,160, meaning there’s plenty of room for a vehicle to be priced from between $50,000 to $60,000.

Being based on the Lambda platform, the new Cadillac crossover could feature front-wheel or all-wheel drive configurations, as well as either turbocharged 4-cylinder power or a big V-6.

We'll have to wait and see, but as the project would draw heavily from GM’s corporate parts bin and require essentially just a new face and interior to existing Lambda models (Chevrolet Traverse, Buick Enclave, GMC Acadia), it could be along much sooner than you think.