Kathie Lee Gifford may be set for a comeback, and it could pit her against her former co-host Regis Philbin.

Gifford is evidently in talks to join the "Today Show" as a host of the fourth hour. Kathy Lee has filled in on the show in the past along side current hosts Ann Curry and Hota Kotb.

No one is signing contracts yet though. The short list of potential co-hosts consists of those already working at MSNBC and other outsiders.

FTV is reporting that Gifford has the job, and the announcement will come in about two weeks.

"Several high ranking NBC insiders tell FTVLive that the Peacock is about to name Kathie Lee Gifford as a new host of the Today Show," their source said.

"'Gifford will work on the 4th hour of Today,' added the NBC source.

We'll have to wait and see where this goes!