"Jennie is already on board for the series and we have been in touch about it," Spelling told People. "I would love to see our characters Kelly and Donna together again and get the chance to work with my friend again."
A CW representative told the magazine, "At this point, there is nothing to report."
However, Spelling, whose late father Aaron Spelling produced the first edition of "90210," said she remains optimistic.
"It was always my dad's dream and intention to make a new '90210' before he passed, so I know he is proud and he would be even more proud if I were a part of it," said Spelling.
"I truly hope for the fans' sake that it all works out!"