The trio have signed to Polydor Records - home to Take That and Lady GaGa - as they prepare for their comeback.
Rumours that the band were reforming surfaced last year when it was claimed that Keisha Buchanan, Mutya Buena and Siobhan Donaghy were working on new material together.
It has since been confirmed that the girls have recorded a song written by Emeli Sandé. MNEK, Asterix, Craze & Hoax, Tanika, Mojam and Naughty Boy are also said to be involved with the project.
"They've been working on new material all year with some high-profile songwriters and producers," a source told The Sun.
"The label have started to pick tracks they think will help them be as big as they once were. This is a huge sign the industry thinks they've still got it."
The band are yet to decide what they'll be called since they don't own the rights to the Sugababes name. Buena won the rights to the name last year but the EU trademark only covers "paper, cardboard... stationery, paper gift wrap and paper gift wrapping ribbons".
Heidi Range, Amelle Berrabah and Jade Ewen make up the current Sugababes.
Recent reports have indicated that the original Sugababes will release a single in the summer and a new album in the autumn.
> Sugababes original lineup sounds really good, says Emeli Sandé
Watch the original Sugababes in their video for 'Run For Cover' below: