The 23-year-old Gossip girl star, who is a presenter at the show, will return in time from her European tour with new beau Leonardo DiCaprio to attend the show.
"They're working on a moment in the show where she'd make fun of it [nude photo scandal]," a source told Celebuzz.com.
MTV has not yet given a statement on the latest addition to the show.
Blake's nude photo scandal erupted on Tuesday, May 31. A hacker posted several cell phone photos allegedly showing the Gossip Girl naked in full-frontal.
Blake's rep claimed the photos were 100% fake, prompting the hacker to post another similar set of photos as a challenge to the rep's assertion. The rep has also threatened to sue the websites who published the photos.
Blake and Leonardo, 36, were first spotted getting cozy during the Cannes Film Festival in middle of May and have spent a lot of time together since then in Europe. The couple is currently in Venice, Italy where they arrived by a private jet on June 1, a day after the nude photo scandal broke.
Celebrities have often used the MTV Award shows to make fun of themselves on messy situations that they get into. Last year Lindsay Lohan poked fun at her drinking problems in a skit at 2010 MTV Video Music Awards.
Lively will continue with her public appearances as planned. Her rep has confirmed that she will attend the three-day press conference for her superhero film "Green Lantern" in LA starting Monday.