'Live with Kelly and Michael' News: Could Kelly Ripa Have A Female Co-Host? [VIDEO]

Kelly Ripa may find herself with a female co-host as Live! transitions to a new era.

The hunt for a new co-host for Ripa is on, but one source is claiming the producers of Live! aren't ruling out women. While the show has always had a male-female dynamic among its regular hosts, there is the possibility for a different direction moving forward.

"They are going to treat this as a process that might take a minute to settle into before any decision is made," a source told HollywoodLife.com recently. "They are not anywhere near a replacement decision and they even are considering having another woman join the show. All options are wide open!"

While the shortlist is expected to have previous co-hosts like Jerry O'Connell and Anderson Cooper, the source seems to think that neither option is what the producers will go for in the end.

"As much fun and respect as she has for Jerry and Anderson they probably will not be the pick for the permanent substitute. The show has worked for a long time because they have found chemistry that is through the roof with the various hosts of 'Live' and they want to make sure that the fans of the show accept the decision as well," the source said.

There has been a lot of attention on Live! over the past few weeks after it was announced that Michael Strahan was moving on and taking a job with ABC's Good Morning America. Strahan has been the host of Live! for four years alongside Ripa, who began working with the show in 2001.

Strahan's final show will be on Friday, May 13. This was bumped up from the original plan to have him stay through the summer and take his new job at Good Morning America in September. Instead, Strahan is expected to be integrated into GMA this summer while Ripa and company look for a new co-host.

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