The singer and TV presenter, 42, is set to appear on Strictly Come Dancing according to The Sun.
The newspaper reveals today (23 May) that Peter is "close to signing a big money deal". Exciting!
Although the I'm A Celebrity star is best known for being a singer, fans will know that he's not shy of a few dance moves too - but would he be any good at a Waltz?
A source says: "It's no secret that we have wanted Peter to come on Strictly for a long time now.
"He doesn't come cheap, but we're convinced it's money well spent and think people who watch the show will love him."
In 2013, Pete himself admitted that SCD bosses had asked him to take part in the show four times, but that he's previously been too busy.
He added: "I think Strictly's a really good show. I really like it because I've danced for years.
"I would love to do a show like Strictly one day [but] I could not see myself wearing the Spandex. I could do everything else on that show, except for wearing those tight trousers."
Peter currently co-presents Give A Pet A Home with Amanda Holden and recently launched a new fragrance for women 'Breeze'.
He is engaged to qualified doctor Emily MacDonagh, who gave birth to the couple's first child together in 2014.
Peter has two older children, Junior and Princess Tiaamii, from his previous marriage to Katie Price.
But is he about the embarrass them on the dance floor with his dad dancing? We'll have to wait and see!
A look at Pete and Emily's romance:
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