According to a friend, the 'Call My Name' star will use an alias rather than her real name, The Sun reports.
A source revealed: "Cheryl's pals are urging her to go for it. She wasn't sure at first, but now thinks, 'What have I got to lose?' after their success."
The Girls Aloud singer's alleged decision to hide her identity is so that she can find someone who appreciates her for herself.
"That way she can get to know someone rather than have them form an opinion of her because of her fame and who she is," the insider added.
It was claimed in February that Cole had restarted a relationship with Derek Hough, and prior to that MC Harvey was interpreted as saying that the pair had been romantically involved, although he later denied having made the claim.
Tom Bower's book The Intimate Life Of Simon Cowell has asserted that the X Factor boss was "mesmerised" by Cole.