They have been friends for quite some time and they were rumored to have a song for Miley's Bangerz album.
Lil Kim even confirmed they recorded a song together here around 30:30 mark:
Could Miley revive Kim's career like Katy did with Missy at the super bowl if they release a single together? I'm sure they could put together a bop!
You already know Nicki Minaj would be fuming and I'd be perched for the mess.