Jennifer Lopez may still be Jenny from the Block, but Jenny costs some serious cash -- and it may have cost her a chance to perform in front of nearly 60 million people.

The New York Post reports that the former 'American Idol' judge was in talks to perform at the hugest cricket event of the year, India's Premier League opening ceremony ... that is, until her management listed her requirements to appear at the event. These included a private plane and numerous hotel rooms for her huge entourage (which included a bunch of stylists, assistants and even a personal chef). All those goodies don't come cheap!

A source told the newspaper, “The demands made on behalf of Jennifer were outrageous. She effectively priced herself out of the event. It was an idiotic move because the audience for this event is huge. It’s like the Super Bowl halftime show. Last year it drew 56 million viewers.” Yikes!

Still, the official story from J. Lo's camp is a bit different. “An offer was made to perform," her rep said. "The date conflicted with Jennifer’s current music-recording schedule for an album due this summer.”

In any case, the Premier League opening ceremony will still be a good time for everyone who tunes in -- Lopez was replaced with pal and former tourmate Pitbull!

Watch the Jennifer Lopez 'Dance Again' Video