Earlier this year the pair became arch rivals when The Voice went head-to-head in a ratings battle with Simon's other major show, Britain's Got Talent.
But, according to The Sun, Will and Simon had a secret dinner in Los Angeles last month - and, as if there weren't enough talent contests already, they cooked up a scheme to turn the tech world in to telly entertainment!
The Black Eyed Peas frontman is quoted as saying: "Simon’s cool. We had a wicked dinner a couple of weeks ago and it was very nice. We’re working on a project called X Factor for Tech — and it’s going to be out of this world.
"Singing and performance create a couple of jobs. But this will create lots. It’s about getting in touch with youth and giving them a platform to express themselves — whether that’s in science or mathematics."
The idea is to find the next big entrepreneur to follow in the footsteps of former Microsoft chief Gates, and Apple's legendary frontman, the late Steve Jobs.
Will is a known gadget enthusiast, and earlier this year donated £15,000 worth of MacBook laptops to a Prince's Trust charity project.