The actress, who played Weatherfield's Frankie Baldwin between 2004 and 2006, explained that she hopes to be part of a serial drama during the later years of her career.
Speaking to Take 5 magazine, Stephenson commented: "I'd love to be an old actress and still be in a soap. I admire the older ladies who carry on working. Look at Betty Driver on Coronation Street - she's incredible.
"But working on Corrie didn't fit in with family life. I didn't want to be away so much."
Stephenson's latest project was BBC One comedy series The Impressions Show, which saw her team up with Jon Culshaw.
She confirmed: "We're hoping to do another series. We're just waiting for the green light."