The singer reveals he's been pals with Skepta for a while, and although they have attempted to sort out a collaboration, their plans have yet to come to fruition.
However, after reuniting at the NME Awards in London on Wednesday night (15Feb17), when they both walked away winners, Matt is more eager than ever to lay down some vocals with the British hip-hop star - and perhaps launch a side project together.
"Me and Skepta know each other," he tells NME.com. "We tried working with each other recently but it just didn't work out. Just for loads of reasons - but we're going to do something in the future.
"We want to do like a West End Girls Pet Shop Boys (kind of thing). Maybe start a band, just me and Skepta do a band. Well, we're talking about it, so let's see what happens."
Skepta was named Best British Male Artist at the ceremony, while The 1975 landed the Best Live Band title.
Pet Shop Boys members Neil Tennant and Chris Lowe were also big winners at the NME Awards, taking home the Godlike Genius Award.