Converting Audio Bass Clip to MIDI Clip

I have an Ableton Live set that I would like to add an upright bass MIDI track to. To achieve this I could draw the MIDI notes for the upright bass instrument. However I am thinking of recording the bass track by recording a bass audio track with my electric guitar and then converting the audio to a MIDI clip and then apply the upright bass instrument to the track. I think this might be a good solution to have the upright bass sound realistic with slight variation in volume and timing of the MIDI notes being played. I want to create a more human sounding instrument than simply drawing MIDI notes. Any other suggestions to achieve this?