'American Idol' presenter Ryan – who is dating dancer Julianne Hough – is reportedly hoping the 'Sex and the City' actress will agree to sign up as the star of the new show after the pair met while filming movie 'New Year's Eve'.
An insider told the National Enquirer magazine: "Ryan's psyched about it. He said it's a new and fresh concept. He thinks she's the perfect fit for the show.
"He adores Sarah and is determined to let her know they'd be perfect for the project."
While Ryan believes they will have great on-screen chemistry, Sarah, 46, has reportedly wanted to work on a fashion show ever since she appeared on 'Project Runway' in 2007.
The source added: "Sarah has talked about doing a TV show revolving around the fashion world for years. She loved appearing on 'Project Runway' so it's a natural fit.
"Whatever they decide to do, with Ryan and Sarah attached, it's sure to be a hit!"