The `Fight for This Love` singer and the Black Eyed Peas star have bonded over recent weeks as Cheryl supports the pop group on the European leg of their current tour and now Fergie-s bandmate will.i.am is working on a duet for them.
A source told The Sun newspaper: "They`ve become great friends so a collaboration is a natural step. If the song is right, Cheryl and Fergie are up for it.
"From what will.i.am`s been saying so far, they`re really keen. It will be a sexy, sultry and ambiguous number. And given that Fergie is a huge name in the US, it could be the tune to really break Cheryl over there."
Cheryl worked with will.i.am on her debut album `3 Words` and has previously stated she wants to work with him "for the rest of her career".
The Girls Aloud beauty - who has gotten increasingly closer to will.i.am since splitting from her soccer player husband Ashley Cole - said: "I would work with will.i.am for the rest of my career if I could. He`s absolutely inspiring, fantastic, futuristic, creative, he`s everything that you would want from a producer and also from a person. He`s a lovely person, so I`d work with him forever if I could."