The 32-year-old producer - whose real name is Shahid Khan - has already released a reworked version of The Jackson 5's hit 'Dancing Machine' by Laura Mvula, but he is looking to bag the 'Cosmic Girl' hitmaker for a cover, and Jay has expressed his interest in the project.
Speaking exclusively to BANG Showbiz at the BMI London Awards at The Dorchester hotel on Monday night (09.10.17), Naughty Boy said: ''I'm waiting to meet Jay Kay. I am a big fan of us. I'd let to get him on board.
''I'd love to get him on my album. Do you know what would be sick? If I did a Motown cover song of JK's favourite Motown song. Put the word out for me please.''
Although Jay has never heard of Naughty Boy, he liked the sound of the project.
Asked if he'd like to get involved, he said: ''Oh wow that's special. Why not? Martha and the Vandellas that's all me.''
The 'Running' hitmaker is also planning to get Robbie Williams involved, but he's warned the 'I Love My Life' hitmaker that he wants to take him ''out of his comfort zone''.
Asked if the collaboration is still going ahead, he said:
''He's just come off tour, so we are just working out times and dates.
''I want to do a Motown song with him that totally takes him out of his comfort zone.
''I've got a feeling he is the right person for it.''
Despite getting excited about the compilation, the studio wizard - whose publishing company Naughty Words was honoured with an award for 'Stay With Me' by Sam Smith at the ceremony - admits he's ''scared'' about how people will feel about him putting his own spin on Motown classics.
He confessed: ''I don't want people to get upset because it is a legacy of music.
''But I feel like what I've done with it, I've put my heart and soul into it and any changes that have been made with the original songs, I'm a bit scared.
'' The reason why I am scared is because it's so different from the original. But it's the only way I can do it.''
What's new in the music world this week?
LCD Soundsystem was released on this day (January 24) in 2005.
Watch three incredible live performances from Discovr.TV.
Don't miss the K-pop titans' return to Europe.
Listen to Alex Bayly performing 'Animal'.
Two weeks ahead of Independent Venue Week, Dry Cleaning made 'Britain's Best Small Venue 2015' (NME) the second port of call on their 2020 tour.