The comedian has previously turned the BBC show down but has been heavily linked to a spot on this year's series.
Last year's series came from Gwrych Castle instead of the jungle, and proved a hit with viewers.
Lillie will be back on screen in Sunday night's episode of the ITV2 reality show.
The Olympian is known for his love of knitting and used it to help pass the time between dives at the women’s 3m springboard final.
The presenter was hailed as a class act for the brilliant nod she appeared to give to the ex-minister's comments.
From Lillie exposing Liam, to Teddy and Faye being cruelly torn apart, there was a hell of a fallout from Casa Amor.
The actor is taking over from Olivia Colman as Her Majesty in Netflix's hit royal drama.
The Brokeback Mountain star says he is “mesmerised” by judge Prue.