My Bloody Valentine set to reform?

Seminal shoegaze noiseniks My Bloody Valentine are considering an offer to reunite and co-headline the 2008 Coachella Valley Music & Arts Festival.

According to reports, a tour would follow later in the year. Best known for the profoundly influential 1991 album "Loveless," the Kevin Shields-led group has been inactive since 1995, although in recent years there have been occasional reports that it was working on a new album and a boxed set featuring unreleased material.

Coachella booker Paul Tollett politely declined comment on the report, but an MBV appearance would fit the festival's profile for luring long-dormant groups like Rage Against The Machine, Daft Punk and the Jesus & Mary Chain back onto the live stage. It is understood that Tollett has been pursuing My Bloody Valentine to play at Coachella for several years; the rumors were loudest in the run-up to the 2005 edition of the event, which was headlined by Tool and Depeche Mode.

Since MBV's split, Shields has done occasional sideman and remixing work for acts like Dinosaur Jr. and Primal Scream. He has also contributed music to the soundtracks for "Lost in Translation" and "Marie Antoinette." Earlier this year, he told Magnet, "We are 100% going to make another My Bloody Valentine record unless we die or something," According to the Daily Swarm, a new My Bloody Valentine MySpace page and official Web site recently launched, but Shields' manager, Vinita Joshi, told the site "there are no confirmed shows at all" at this time.