According to The Sun, frontmen Pete Doherty and Carl Barat, bassist John Hassall and drummer Gary Powell got together to test the waters before their planned festival comeback.
A source said: "They have agreed to play at Reading and Leeds. If it works out they will consider writing new material.
"The four of them only agreed to it after a secret rehearsal to see if it still worked."
They added: "Carl is nervous about the reunion because he is worried Pete could let him down again. But Pete's promised he will give his all for the gigs."
Doherty and Barat have reunited on stage a number of times since Doherty left The Libertines, but the four-piece have not played together since 2004.