Dannii held out the olive branch as she launched the Project D watch range for Ernest Jones in London.
Speaking to Metro, Dannii said: "Sharon and I should kiss and make up live on air! Do you think it’s time for a reunion?’
"Now that would be some show. Sharon, it’s time to pucker up."
Dannii's offer to bury the hatchet with her former nemesis comes hot on the heels of rumours that the former judges are to make a return to 'The X Factor' in a bid to boost flagging ratings.
"It seems to be buzzing around in the papers," she said.
Meanwhile, Dannii has revealed to Lorraine Kelly that her two-year-old son, Ethan is already speaking three different languages.
"He is talking a lot. He`s very good with languages," she said. "So my friends who speak different languages are speaking to him.
"From TV shows he's learning different languages - there's one with a bit of Spanish in, another one with Chinese in it so he's like, 'Ni Hao'! And when my Italian friend speaks to him he says, 'Ciao!' He's brilliant."