The 'Hands' singer said that she would love to see the original members of the group take on the newer version in a chart battle.
Little Boots is quoted by The Sun as saying: "They could call themselves The Real Sugababes. It would knock the current Sugababes out of the water."
She added: "If one wasn't up for it, I could be the blonde one."
Buchanan was ousted from the band in September by bandmates Amelle Berrabah and Heidi Range and was later replaced by Jade Ewen.
Her management have insisted that Buchanan is too busy with her new solo career to reunite with the original band members.