The X Factor alumni has allegedly asked her management to set up the duet after the US rapper praised her on Twitter last December.
"It's easy to tell from Misha's music and rapping style that she is a huge Missy fan," a source told The Sun.
"Misha's album is coming together but the ultimate dream is to persuade her idol to contribute. She's hoping her management can hook it up."
Misha B recently unveiled her debut single 'Home Run', expected to be released in the UK next month.
The new track was originally previewed on her free mixtape Why Hello World, which was made available to download last month.
Listen to Misha B's new single 'Home Run' below: