Peter and Emily Andre "love the idea" of having another baby.
The 49-year-old pop star and his wife Emily already have Amelia, eight, and Theo, five, together - but they're currently undecided about whether to have another child.
Asked if they plan to have any more children, Peter - who also has Junior, 17, and Princess, 15, with ex-wife Katie Price - told OK! magazine: "We do talk about it all the time, but one minute we’re a 'yes', and the next we’re a 'no'.
"We love the idea of having one more child, because the two we have together are the most amazing kids - but that thought usually lasts until we see other people with screaming babies! I don’t know.
"Maybe Junior will be bringing our grandchild to visit in the next 10 years. Ha!"
Peter's son Junior has already followed his dad into the music industry.
And Peter has revealed he's "doing amazingly" in his new career.
He said: "[Junior] has recorded his second single after the success of his debut song, 'Slide', and they’re currently developing the music video. The release date for that will be announced soon.
"Even though I’m his manager, I want to let him find his own feet in this industry.
"I’m always there offering advice whenever he needs it. I’m so proud of all the hard work he’s putting into this. He’s going to make some magic."
The 'Mysterious Girl' hitmaker also revealed that Princess has "the most incredible voice".
But ultimately, Peter expects her to pursue a career in the fashion industry instead.
He said: "She’s got the most incredible voice - really. I love to hear her sing. But I think she wants to go into the fashion world, which is really exciting. She’s got a real eye for style."