We spotted Philip and Cheryl getting cozy at Nobu in Mayfair last night, where Cheryl was launching her jewellery collaboration with de Grisogono - and the pair appeared rather keen to be photographed together.
Rumours that Cheryl was asked by the Arcadia boss to try her hand at creating a line were circulating a couple of years ago, and now Kate has left her regular slot, Cheryl might just be ready to seize the opportunity.
If they do pull it off, we predict there'll be Fight For This Love-style military jackets, and plenty glam cocktail frocks worthy of an X Factor judge. What do you think? Would Cheryl and Topshop be a good fashion match? Leave a comment below and let us know.