Walsh, who first managed the girlband after they won 2002 talent show Popstars: The Rivals, told Closer magazine: "Girls Aloud are doing a comeback tour? They must need the money!"
He then added: “Girls Aloud made some great records, so if they perform in Dublin, I’d go along to see them, maybe.”
Walsh went on to address rumours that Cheryl could be getting her own chat show, hitting out at his former X Factor colleague by stating to the publication: "Oh, God! As long as it’s not a singing show!"
Referring to one of Cheryl's solo performance on charity show Stand Up 2 Cancer - which was hit with some technical issues - Walsh added: "Did you see her recent performance on Channel 4? I loved it for all the wrong reasons."
Walsh and Cheryl previously clashed earlier this year after Cheryl claimed in an interview that Louis had "zero involvement" in Girls Aloud's success, leaving the Irish music mogul to suggest that the Geordie star needed vocal lessons.
Watch MTV News on the hour every hour on MTV - Sky Channel 126 and Virgin Channel 134