The Camp Rock co-stars have been close friends ever since their days working for Disney, and while Lovato has gone on to be a successful solo artist, Jonas has separated from his siblings in The Jonas Brothers and ventured into acting.
In an interview with MTV, the Skyscraper hitmaker reveals they have now reunited to work on a new track, and hints it could result in them forming their own act.
She says, "I did write an amazing song with Nick Jonas and we want to do something with that, but we are not quite sure, so maybe we can do a side project together. We may or may not have picked out the band name already."
However, fans will have to wait a little bit longer for a Lovato/Jonas supergroup.
She adds, "I know he's working on his new album too, so it might not be for awhile, but the two of us... I'm always writing songs and he's always writing songs.
"Inevitably we end up on the same team, musically. It just always happens."
Jonas recently served as the creative director for Lovato's Neon Lights concert tour. The singer famously dated Nick's elder brother, Joe. They split in 2010.