A source told MailOnline that Halliwell had stated: "After the Olympics I can't imagine even talking to her again, let alone being on a stage with her. Mel B. was right, she has lost the spirit of the band."
A spokesperson for VB has since told the tabloid: "The Spice Girls have received some amazing invitations to perform over the last few years, however personal family and professional reasons mean this has not been possible.
"The Olympics is one more amazing opportunity but no announcement has been made or confirmation given, so this is nothing more than speculation at this time."
While Posh may be reluctant to be a Spice Girl again, reports also claim that it is Mel B, not Victoria, that has made a list of diva-like demands ahead of the event on 12th August.
An insider told The Sun: "The delay has nothing to do with Victoria or Mel C - it's down to Mel B. She's told organisers that if they want her at the show they are going to have to fork out for a stack of unreasonable demands.
"She wants her friends and family flown from all over to see the gig and wants them to have backstage access. And her rider, which includes a demand for a personal stylist to be flown wherever she goes, is ridiculous."