EXCLUSIVE: Ryan Seacrest 'Open' to Hosting 'American Idol' If Show Returns, Source Says

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American Idol didn't just put singers on the map, it also made Ryan Seacrest a household name.

Just over a year after Idol went off the air, the 42-year-old TV star became Kelly Ripa's new permanent co-host on Live! this week.

However, despite his already packed schedule -- which includes shooting Live! in New York City and commuting back to Los Angeles on the weekend -- a source tells ET that Seacrest might consider hosting the Fox show if it were ever to return.

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"Ryan has a lot of affection for American Idol, given the significance to his career and all the connectivity it has to the things he loves -- live, pop music, talent discovery, etc," the source said. "There have been no formal discussions with Ryan about his involvement but I’m sure he would be open to it, in the right capacity in the scenario that fits the other pieces above.”

The source also noted that Seacrest's "priority is Live! and his radio show."

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Another source close to FremantleMedia -- the production company behind Idol -- tells ET that it's "entirely possible to do American Idol in New York City," where Seacrest resides during the week. "It could be more costly, but worth it," the source said. "Everyone knows that Ryan is the glue that keeps the show together."

The source added, "A reboot without him is almost unthinkable. The fans want the show to come back and they want it with Ryan.”

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While it seems that Seacrest might be willing to host Idol again if it were to come back, the issue lies in where he would find the time to take on yet another job. In addition to Live!, he also hosts a nationally syndicated daily radio show, recently renewed his contract to host red carpet specials for E!, executive produces several reality shows and has his own fashion collection.

A source close to Live! reveals to ET that "there are concerns that Ryan could be spread too thin."

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"That’s something producers are keeping an eye on, but everyone is supportive of Ryan," the source added. "They knew going into this with him as the choice that he always has multiple things going on."

Earlier this week, a production source on the daytime talk show told ET that "it’s being worked out so that Ryan is able to focus on Live! properly," and that "Kelly is in support of his other jobs."

Reporting by Claudia Cagan and Stacie Gottsegen.

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