"And that leads to the next question: who do they replace her with? At the moment it's all being done in a very cloak-and-dagger way and not through official channels."
The report goes on to speculate that the girls will announce plans to re-form in the coming weeks, and may hold auditions for a new member via a reality TV show "to rival X Factor".
Per the Mail, the girls are also considering "recruiting a singer with more experience of the music business".
The report claims that Sugababes songbird Heidi Range has been mooted as a possible Posh replacement.
"At the moment they're thinking who, out there, who's been in a another band, could 'be' Victoria. There would be interest in a television series, but I think they're keen on someone with industry experience rather than discovering a new star," added the source.
Reps for the girls all declined to comment on the report - apart from Beckham's, who was quoted as saying: "Victoria respects all of the girls and will always support them all personally and professionally."
So is Posh really about to be replaced?
Bunton and Mel C have since taken to Twitter to set the record straight.
"It seems there has been some Spice related nonsense written today. None of the Spice Girls would ever or could ever be replaced #justsayin x," wrote Mel C.
Echoed Bunton: "None of the Spice Girls would ever or could ever be replaced, nonsense in the papers!!!"
FAST GOSSIP
And finally...
* Lindsay Lohan finally thanks Charlie Sheen for giving her $100,000.
* Kelly Clarkson announces engagement; check out the giant finger bling.
* Justin Bieber gives away pet hamster to screaming fan. As you do.
* Hugh Grant backs Jon Stewart for branding him a "pain in the ass".
* Katy Perry and John Mayer cosy up at Rolling Stones gig.
* Marilyn Manson gets a right earful in a fight.
* "Everything is fine"- Orlando Bloom's mum denies Miranda Kerr split.
* "He's fallen for her in a big way" - Harry Styles is besotted with Taylor Swift, says DJ.
* Simon Cowell considering Rihanna, Chris Brown for X Factor? Nah.
* Adele named Billboard top artist of 2012.
* Samuel L. Jackson drops F-bomb on Saturday Night Live.
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- Rumour Has It