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Will Whitney Houston be the true voice of “Pocahontas”? She’s been offered the pop version of “Colors of the Wind,” the showstopper ballad from the upcoming Disney animated feature, but hasn’t accepted. Nor has Celine Dion, who teamed with Peabo Bryson on the Disney hit “Beauty and the Beast” and has also been approached about the “Pocahontas” single, which has music by Alan Menken (who also did “B&B;,” “The Little Mermaid” and “Aladdin”) and lyrics by Disney newcomer Steven Schwartz.

Disney executives wonder how much longer they can wait for an answer--the “Pocahontas” album is due out in less than three months. They also must be wondering how anyone could even think of turning down such an offer.

Given the successes of the pop songs from “Beauty and the Beast,” “Aladdin” and “The Lion King,” a single from a Disney animated feature seems as close to a sure thing as it gets in pop music.

“Once you have done (a hit as big as ) ‘I Will Always Love You,’ there’s not much you can really do bigger,” says Houston, who cites scheduling as the biggest reason for not committing to the project.

She’s currently on location in Arizona preparing for her starring role in the movie “Waiting to Exhale” and then will be recording new songs of her own to add to a greatest-hits package.

“ ‘Pocahontas’ seems fabulous and Disney is wonderful,” she says, “but I’m only one person.”

If she declines, the nod apparently goes to Dion, though reportedly Janet Jackson and Toni Braxton are possible candidates.