The models are reportedly both interested in teaming up for the series that would document their successful careers.
A source said: ''Kendall and Cara both think doing the show would be a blast. It's been pitched as 'The Simple Life' for a new generation, except with two of the world's most popular supermodels. They'd be giving the cameras an all-access pass to their fabulous lifestyles, from who they're dating to their careers.''
Producers also think the 'Keeping Up With The Kardashians' star Kendall and British model Cara, who are close pals, will get up to lots of mischief all over the world.
The insider told Life & Style: ''Cara is known for getting into trouble, which would make for great TV.''
But the blonde beauty might be too busy to film the series, as she is currently making waves in Hollywood.
The 'Paper Towns' star recently admitted she was ''terrified'' to leave her career as a model for the film industry.
She said: ''The thrill of acting is making a character real while being a model is the opposite of real. It's being fake in front of the camera.
''I'm not sure I understand what fashion is anymore. I admit I was terrified to leave. I mean, the bubble gives you a kind of dysfunctional family. When you're in it, you get it. And the second you're out of it, you're like, 'What the hell just happened?'''
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