It has been rumoured that the three stars have a new track on Taylor's upcoming album, 'Lovers'.
A fan who attended one of Taylor's secret listening parties told one of the singer's fan accounts on Twitter that the trio will perform a track about female empowerment.
Taylor recently ended her feud with Katy and she spoke of how she wanted to make sure things were "solid" between them before letting the public know they were on "good terms" again after they famous fell out when Katy took three of Taylor's backing dancers for her 'California Dreams' world tour before her 'Red Tour' had finished in 2013.
She spilled: "She and I have really been on good terms for a while. She sent me a really nice note and an olive branch to the - like an actual olive branch - to my tour when it started, the 'Reputation' stadium tour, a while ago. "From that point on we’ve been on good terms.
"Then we saw each other at a party and walked up to each other and hugged it out and talked about things, and then we saw each other again and hung out at another party and it was just like something felt so much lighter about my life when things became really good between us. And, you know, she and I have been fine for a while and really on good terms but we didn’t know if we were ever gonna really tell people about it. We wanted to make sure that was solid between us before we ever made the public aware."