Rumours have been hurling around the last day or so that the two were preparing a duet for the annual gala ceremony, which is set for the Los Angeles Staples Center on January 31.

Details about the song to be performed by the pair have yet to emerged although sources has claimed that the performance promises to one of the most memorable in the event’s history.

Asked about plans for the Sundance Film Festival in Utah this week, Sir Elton didn’t deny the speculations.

As a reconciliatory gesture and to dispel Eminem’s false homophobic stance, Sir Elton collaborated on stage with the famous rapper at the 2001 Grammy Awards.

The 52nd annual Grammy Awards will also include performances by Pink, Beyoncé, Black Eyed Peas and Taylor Swift.

Meanwhile, it’s been reported that X Factor guru Simon Cowell asked rising star Lady GaGa to take part in the US version of the famous talent programme.

The pop music mogul is said to want GaGa as a judge for the first edition of the forthcoming talent series.

GaGa and Cowell have already collaborated professionally as the ‘Bad Romance’ star performed on the X Factor last year after being approached by music mogul.

But it’s believed that Gaga’s schedule won’t permit the singer tohave regular appearances on the show.

A source close to Cowell said that Simon loves Lady Gaga and really appreciates her energy. So far, negations have reported to be going on to establish was kind of involvement could Gaga have with the show.

X Factor America is scheduled to be launched at the end of 2011.

Jackson family sources said Michael Jackson’s children are set for a Grammy appearance on Saturday.

The two eldest children of late superstar Michael Jackson are scheduled to walk on stage this weekend and accept on the behalf of their father a Grammy Lifetime Achievement Award.

This event would mark the firs public appearance of the two children – twelve-year-old Prince Michael and eleven-year-old Paris — since the memorial service held in honour of their father 12 days after his death of an alleged overdose of medication.

Sources close to the Jackson family have said the pop star’s youngest child, 7-year-old Blanket, was not scheduled for an appearance at the Grammys, but things could change.

There are no plans for the children to perform a song at the glitzy event.

The Recording Academy – the American organization which operates the Grammy Awards – is said to honour the late King of Pop with a Lifetime Achievement Award during the Special Merit Awards ceremony.

The Grammys are scheduled for this coming Saturday night, January 30.

Meanwhile, a California judge has set a hearing date to decide if Joe Jackson, the father of Michael Jackson, is entitled to receive a monthly allowance exceeding $15,000 from the estate of the late superstar.

Judge Mitchell Beckloff, of the Los Angeles Superior Court, said on Thursday he scheduled an evidentiary hearing for the 26th of May in regards to Joe Jackson’s petition.

The relationship between Michael Jackson and his father has been reported as often being strained and difficult.

The star is reported to have purposely omitted his father from his will and trust.

Jackson’s will did take care of his three children, his mother and a string of charities.