In December, Ola was forced to pull out of the The Jump after damaging her knee in a skiing accident, and there were fears she would no longer be able to dance.
Now two months on, the 32-year-old has revealed she is recovering and doctors have reassured her she will be back in the ballroom by the end of this year.
While training for The Jump at an indoor ski slope, Ola took a fall snapping the ligament in her left knee.
Appearing on ITV's Lorraine earlier today, the dancer said she was "devastated" after the accident.
"Obviously the first thing in my head was 'am I going to dance again?'," she said. "I will. It's just going to take time unfortunately. My knee has to tell me if it is ready to dance basically, but hopefully I can soon."
In January, Ola underwent knee surgery following her fall, and she has now said she is making a full - albeit slow - recovery.
She added: "I can see a light at the end of the tunnel now because I am getting better, I am actually in the process of getting off my crutches. It's just a very slow process.
"My physio and my doctors have said I will be 100% ready for [Strictly]. I would love to be ready and I would love to be able to do the show again."
Ola then went onto say the worst part of her ordeal was sitting at home waiting to get better. Luckily for her though, her husband James Jordan was on hand to keep her company.
Speaking about her other half, she said: "James has been absolutely brilliant, he's my rock."
And this year's Celebrity Big Brother has kept them both highly entertained at home, with Ola admitting she and James - a former CBB contestant - have been glued to the current series.
Fans of the show will even see James return to the house, as yesterday Big Brother revealed he had joined Eamonn Holmes to take part in the latest CBB task.
The pair joined the housemates to host a 'news bulletin show'. One by one each CBB celebrity joined the panel to debate different topics - including their fellow housemates.
We SO can't wait to watch!
Reveal is now on Google Plus! Join us here for the latest pictures, fashion and celebrity news!