The 29-year-old previously judged 'The X Factor,' which was her first TV work. Her manager Will.I.Am is keen for her to return to TV, reported Daily Star.
Cole became an overnight sensation when she first appeared on the 'X Factor' with Australian singer Dannii Minogue.
"Sky1 are desperate to get Cheryl to sign up. They've been in talks for a while and believe they will have wrapped up the deal within the next month.
"On the X Factor she found it easy to connect with people and viewers loved her for it," a source said.