Officials from Cricket Australia (CA) and the England and Wales Cricket Board (ECB), who are currently negotiating about the itinerary for next summer's Ashes series, have agreed to experiment with the first ever 20-overs match between two international teams.
The venue and date for the inaugural contest are yet to be decided, but the tournament will be part of the build-up to the triangular tournament they have backed for several years.
An ECB spokesman confirmed: "The two Boards have agreed in principle to the idea - it's a very exciting proposition."
The Twenty20 Cup was a big success in its inaugural season in English domestic cricket last year, attracting some 250,000 fans.
That success has been mirrored in South Africa, where the Pro20 Series was launched earlier this year.
In games lasting just two-and-a-half hours, each team faces 20 overs.