are both leaving their longtime TV gigs this year -- so will they hook up for a show? They've been talking about it.

Mary, who hosted a talk show with Reeg in the early '80s, tells The Hollywood Reporter, "Regis doesn't want to use the 'R' word -- retirement -- and neither do I." However, the TV vets say they want to take some time to think about the future after they finish their current jobs.