That's the plan, according to Hughes, and, I, for one, can't wait to see Hughes pull an Iron Sheik on this dude.
PS: Just in case the link's down, here's exactly what Hughes posted at his website: "Just got a call from Joe Silva and as of right now it looks like I’ll be fighting Matt Serra in Vegas on May 23rd. This is not 100% confirmed, but I believe it is going to be on this date."