And that's not all. She reportedly let slip that there may even be a script. According to 'The Sun,' Collins said she's been in "constant contact" with 'Dynasty' creator Esther Shapiro, "and apparently they've written a script."
But, Collins added, "I can't tell you anything about it -- it's top, top secret. ... I would love to be Alexis again because it was a great role."
Collins played the oft-married über-bitch Alexis Carrington Colby (née Morell, a.k.a. Alexis Dexter and Alexis Rowan) on the primetime soap from 1981-9.
An Aaron Spelling production, 'Dynasty' followed the lives of oil-rich Denver family the Carringtons who, despite all their vast wealth, mostly chose to live under the same roof à la the Ewings, which provided unlimited opportunities for familial conflict and intrigue.
The irredeemably evil -- but always impeccably dressed and accessorized -- Alexis spent most of her time smoking and hatching plots to take down ex-husband Blake (John Forsythe) and his new wife Krystle (Linda Evans). Her frequent over-the-top catfights with Krystle have become the stuff of TV legend.
The series was a modest success in its first season, but the addition of Collins and the writing team of Ellen and Robert Mason Pollock to the cast in Season 2 was credited with propelling it into the Top 20 and then the Top 10. It eventually hit the No. 1 spot in 1985.
Never afraid to take risks, the show was known for its season finale cliffhangers. The successful 1985 run was capped off with the infamous 'Moldavian Massacre' episode, in which a royal wedding in Moldavia ended in a bloodbath after gun-toting terrorists turned up and left all the major characters seemingly dead.
'Dynasty' attracted a stellar lineup for guest star and recurring roles, including screen legends Rock Hudson, Ricardo Montalban and Charlton Heston. It also launched the careers of actors like 'Heroes' star Jack Coleman and Emma Samms ('General Hospital').
However, in the late '80s the excesses of plot and wardrobe became just too much and viewers starting drifting away. ABC finally cancelled 'Dynasty' in 1989, after nine seasons. A spin-off series, 'The Colbys,' starring Charlton Heston, ran for three seasons.
Collins admits that rebooting 'Dynasty' without the late John Forsythe could be a challenge. And even though she's keen to stage a rematch, could Linda Evans be persuaded to don Krystle's epic shoulder-pads again?
Who knows? But it's certainly fun to speculate!