The good folks over at Flyin' Miata have a well-earned reputation as the go-to people to turn regular Miatas into fire-breathing monsters, usually with V8s. The Colorado-based company just revealed a fourth-generation MX-5 Miata with a 525-hp LS3 V8, but it's already got its sights on the Miata's Italian sibling, the new Fiat 124 Spider.

Yep, Flying Miata's Keith Tanner just confirmed to Road & Track that the company plans to start offering V8 conversions for the 124 Spider alongside the MX-5 Miata. Flyin' Miata hasn't built a prototype for the V8-powered 124 yet, but since it's so similar to the current Miata, Tanner says most of the engineering covers both cars.

"Because [the 124 Spider] has so much in common with the Miata, the first build will be a customer build," Tanner told Road & Track. "Under the skin, all the stuff that makes them different is the stuff we take out."

Travis Ingram/Flyin' Miata

In fact, Tanner thinks the Fiat might be easier to convert than a standard Miata, since it has a taller hood and cooling provisions for the intercooler on its stock, turbocharged four-cylinder. The electronics are shared between the 124 and the Miata as well, so all the gauges and infotainment should work as they left the factory. Yes, Flyin' Miata figured out how to make a GM V8 engine communicate with the stock instrument panel on a 2016 Miata or 124 Spider.

The company already has a 124 Spider in its fleet, and it's working on developing new parts for it, in addition to the V8 conversion.

Tanner expects the V8-conversion for the 124 will cost $50,000 plus the cost of a donor car, the same as what Flyin' Miata charges for its V8-powered MX-5s. That seems like a lot of money, but that includes a fuel-injected crate LS3 engine, Tremec T56 gearbox, Positraction differential, upgraded suspension, wider tires, and big Brembo brakes. Starting with a base-model $24,995 Fiat 124, the total cost should be a little under $75,000.

That's not much more than a $68,400 Porsche 718 Boxster S, and the Flyin' Miata 124 will offer 200 more horses than the Porsche in a lighter, smaller package.

Sounds like a good recipe to us. If you want one–and believe us, you do–contact Flyin' Miata immediately.

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