Rock legends Guns N’ Roses are reportedly set to reunite in 2016 and headline the world-famous Coachella Music and Arts Festival.

Axl Rose and Slash will be key names on the Coachella line-up, according to Billboard magazine, in what would be the first time they have shared a stage since 1993.

The band was also reportedly in the process of working out a stadium tour schedule in the new year, asking for about $3 million per show, which would put tickets at about $US275 ($A378).

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A re-grouped Guns N’ Roses would feature both Rose and Slash, as well as bassist Duff McKagan.

McKagan recently tweeted a picture of himself playing a bass guitar, with the caption ‘LAMF’, a slogan that featured previously on some of his band gear.

Reunion rumours surfaced earlier this week, after a mysterious trailer was played in cinemas before the latest Star Wars installment.

See the video below

The reunion would follow a 2009 interview where Rose made it clear there was no chance he would share the stage with Slash again.

“What’s clear is that one of the two of us will die before a reunion and however sad, ugly or unfortunate anyone views it, it is how it is,” he told Billboard‘s Jonathan Cohen.

“Those decisions were made a long time ago and reiterated year after year by one man.”