Fuller, who initially helped form the pop band, said there was "great demand" to see Victoria Beckham, Melanie Brown, Emma Bunton, Melanie Chisholm and Geri Halliwell reunite, The Mirror reported exclusively Sunday.
"They stand for so much in British music history and I can't think of a better time for them to get back together for another performance," Fuller said of the Spice Girls. "The demand for them as a band is as strong as ever."
The opening ceremony performance by the pop band would be seen by an estimated 2 billion people.
The Mirror said Fuller's announcement comes after British Prime Minister Gordon Brown said music would play a vital role in the London Games.
"The 2012 Olympics will be spectacular. Music and the cultural aspects will be very important," Brown said.
Video of Victoria’s Secret models trying to 'twerk' hits Instagram
Wisconsin business offering 'therapeutic cuddling' forced to close