The group's frontman, who has forged a new career as a musical theatre star, has confirmed producers are looking to create a new show based on their back catalogue of hits, including Sweet Little Mystery and Love Is All Around.
However, Pellow is adamant he won't agree to the project unless writers can come up with a good story to tie the music together.
He tells the Daily Record, "We have been approached about doing Wet Wet Wet The Musical because we have a back catalogue of hit records that would choke a horse and so many top 10 records. We've been blessed by lots of number ones and people are familiar with our songs, but all good musicals come from the book and it's book, book, book. So if a piece is right and the music complemented that, then we'd never say no...
"It depends what you are hanging it on. When you get jukebox musicals, you knit them together, but there has to be more meat on the bone there so that when these songs fall, they knit together with some context in it rather than 'There's just another hit record'. I never say never but I think that where our strength lies is to be able to write music for a good idea."
Other British bands have attempted to translate their music into a stage show with limited success - pop stars Take That were the focus of Never Forget, which closed after just six months in London's West End, and the curtain is due to fall on Spice Girls musical, Viva Forever!, this month (Jun13), just seven months after it opened to scathing reviews.