"It's inevitable that we'll try it, at least," the 39-year-old Fey told the news service. "We'll see if it makes it to air."
The possible skit would mark Fey's fifth turn as the former Republican vice presidential candidate, which won her an Emmy last year and helped SNL's ratings surge in its 34th season. However, Fey — who appeared alongside Palin herself in an October 2008 sketch — called the experience "overwhelming."
"It was the strangest thing that's ever happened to me," the 30 Rock star told the AP. "I've never had anything fall in my lap like that. Everything is usually me trying to convince the people of Earth that it's OK for me to perform."
It has not been announced when in April Fey will host SNL.