Cat Deeley says she is keen to "recreate the magic" of SM:TV Live after Ant and Dec revealed plans to reprise the morning TV show.
The presenter said she had not been "cordially invited" to appear on the proposed one-off special but she had spoken to the Geordie duo about reuniting for the programme.
Plans for a 20th anniversary special of SM: TV Live, which ran on ITV from 1998 to 2003, were reported earlier this week, with Dec saying they were "floating" the idea to a few people.
Asked if she would be involved in the planned revival, Deeley told the Press Association: "I don't know yet. I haven't been cordially invited yet.
"I think it would be a great idea. It's been 20 years. I think it's about time, isn't it, for all those with a misspent youth?
"It was normally the Friday night that was the misspent youth and they woke up on the Saturday morning, slightly hungover."
Asked if she had spoken to Ant and Dec about bringing back SM:TV Live, Deeley replied: "I've seen them. That's all I can say.
"But it would be great and really fun. If we can all get back together at the same time, at the same place, let's recreate the magic."
Deeley was speaking at the Film Is Great reception in Los Angeles, where she was joined by her partner, comedian Patrick Kielty.
He added: "She's being very cagey. Her people have been speaking to theirs, is that what they say over here?"
Deeley hosted SM: TV Live with Ant and Dec from 1998 to 2002.
In an interview with This Morning on Friday, Dec said of SM:TV Live: "We are talking about maybe doing something if we can get Cat back from America.
"She's a big star out in America now so she might come back if we beg."