Mother-of-one Minogue, who is currently promoting Britain and Ireland's Next Top Model, told The Sun that she would like to meet someone and expand her family.
She said: "I'd like to have more kids, but we're into the terrible twos with Ethan so we'll see. He requires a lot of time, which is why I changed my schedule to be with him more.
"I don't want to miss out on these moments with him."
The 41-year-old said that her son has taken to splitting his time between Australia and the UK well.
"It is the most amazing experience to be able to say to him, 'Mum works in London, let's jump on a plane'," she explained.
"We stopped in Abu Dhabi and he saw camels. You can't learn that at a crèche. It's a great experience.
"He has just taken to it. I thought he'd take a lot more adjusting to it but he has travelled since he was born."
Minogue also explained her decision to turn down a return to The X Factor.
She said: "X Factor is not part of my life, not now.
"I think it will be interesting for viewers to see me do something completely different. I can't wait to get back on British TV and I'm not nervous at all."