Living on the cheap just got a little more luxe.

"Project Runway" winner Christian Siriano has inked a deal with Payless ShoeSource to design a line of inexpensive handbags and footwear – his first ever.

The collection will debut during New York's fashion week in February at Siriano's runway show and will be available for Payless shoppers by fall 2009.

Siriano’s runway show last fall won critical acclaim and drew such A-listers as Anne Hathaway and Vanessa Williams. And “Project Runway” judges Victoria Beckham, Heidi Klum gushed over the young designer's fierce fashion sense after the show.

"Christian is among the next great American fashion designers, and we are thrilled to continue to expand the Payless Designer Collections and to add Christian as our newest designer partner," said Payless president LuAnn Via.

Siriano's exclusive line for BlueFly.com quickly sold out and he has since designed couture gowns for numerous celebrities, created dresses for the Pussycat Dolls at the recent American Music Awards, served as a guest judge for the 2008 Miss USA Pageant, and had a cameo on "Ugly Betty."

This new line – which ranges in price from $25-$45 – will enable regular gals to look a little more glamorous.

"I'm so excited to design and create with such an amazing brand that is all about fashion and trend but, most importantly, is also about affordability," said Siriano.

"I've already been working with the Payless Design Team in New York, and I can't wait to see how they will take the high-end shoes and bags I'm designing for the runway and turn them into pieces that everyone can buy. I'm all about the runway and the sidewalks!" he said.

Source: nydailynews.com