Blur to return to the studio in August
Guitarist Graham Coxon, who left the group in 2002, has made peace with his former band-mates and will be involved in the project.
The quartet have reserved a London studio for a week in August, but will only book further sessions and record an album if they are able to work well together.
"We're all heading into the studio together this summer. Graham's coming too. We're gonna see if we've still got it," bassist Alex James confirmed. "If not, I think we'll just call it a day."
A source told the Daily Star: "There was a lot of acrimony around the time Graham left but now everyone is back on speaking terms. They're hopeful that the sessions will prove rewarding but are under no illusions. If things don't go to plan in the studio they're all quite happy to walk away, safe in the knowledge they gave it their best shot."