'American Idol' Could Come Back in 2018 Amid Reported Bidding War Between Fox and NBC

Does the Peacock network have its eye on another singing competition show?

American Idol may not have seen its last days!

A source close to the long-running singing-competition reality show, which turned off the mics last year after 13 seasons, could be finding new life next year, noting, "If the show comes back, it wouldn't be until 2018."

WATCH: The Complete List of 'American Idol' Winners: Where Are They Now?

As for reports of a potential bidding war between NBC and the series' original network, Fox, for the revival, the source says, "There is probably more loyalty to Fox, but at the same time, they canceled the show while it had one of its best seasons ever."

Meanwhile, a separate source tells ET that “an [American Idol] reboot is [to be determined]."

MORE: How 'American Idol' Changed the Way We Watch Reality TV -- and Gave Us the Kardashians

The source, who previously worked on American Idol for several seasons, also gave this opinion on the possibility: "It’s never gonna be as sexy as The Voice."

Speaking of... if the rumors are true, why would NBC be interested in Idol when the network already has its own juggernaut series? The answer could come down to cutting costs.

WATCH: The 7 Biggest Scandals in 'American Idol' History

The hypothetical American Idol hosts would likely earn less than the star-studded Voice coaches. Not to mention, new dad Adam Levine might want a little more time off time to spend with his 6-month-old daughter, Dusty Rose!

Watch the video below to relive Simon Cowell's surprise American Idol finale appearance.

Reporting by Stacie Gottsegen and Brendon Geoffrion.