The late singer's bandmates - Kimberley Walsh, Nadine Coyle, Nicola Roberts and Cheryl - are said to be keen on getting together on stage to pay tribute to their late friend after she tragically died from cancer aged 39 earlier this month.
An insider told The Sun newspaper's Bizarre column: "It's bittersweet, of course. They've all been through the most devastating news and it's beyond tragic.
"But when the time is right they'd love to see a concert in Sarah's memory. It would be hugely emotional for everyone involved, but it feels like a wonderful thing to do after everyone had hoped they might be able to do it together.
"They loved her energy and her zest for everything, so it would have to be done in that spirit. And if it could raise some money for charity too, then even better."
The news follows reports suggesting Sarah and the rest of the group were planning to reunite for a run of show in 2022.
Appearing on 'Good Morning Britain' last week, Showbiz journalist Ellie Phillips told Charlotte Hawkins: "Sarah had actually signed up to go on tour with Girls Aloud in 2022 after the pandemic."
Following the news of Sarah's passing, Nicola and Nadine have admitted they are heartbroken by the devastating loss.
The former said she is finding it difficult to "accept" that "this day has come".
She wrote on Instagram: "I’m absolutely devastated and I can’t accept that this day has come. My heart is aching and all day everything we went through together has raced round my mind.
"Especially this last year since her diagnosis, as hard as the year has been, our new memories are strong in my heart.
"There are so many things to say and at first it felt to personal to put them here and then I remembered that there are so many other people grieving her too."
Nicola added how Sarah "made" the band, and admitted it's "painful and utterly cruel" that she's gone.
She added: "A part of me or us isn’t here anymore and it’s unthinkable and painful and utterly cruel. She would have loved your messages today.
"Electric girl, you made us. You gave it everything and still with a smile.
"A white butterfly flew past my window this morning before I knew, it must have been you."
Nadine wrote: “I am absolutely devastated!! I can’t think of words that could possibly express how I feel about this girl & what she means to me!! I know so many of you will be feeling this way. For now I’m sending so much love to you!!! (sic)”
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