Facebook and Google are rumored to have their respective eyes on doing business with Skype.

Sources tell Reuters that the two Internet giants are separately considering teaming with the Web video-conferencing service through a joint venture, and might even be considering buying the company outright.

Facebook seems the more serious of the two suitors, according to the sources, but the talks are still in the early goings.

A partnership with Skype, Reuters notes, could help Facebook expand its foothold in Europe, where the video-conferencing company is already well established.

Google’s rationale appears less clear, as the Web giant already has in-house competitors with Google Voice and Google Talk.

Skype, which has already been bought and sold once (by eBay) in its eight-year history, could also go public later this year. If that happens, analysts expect the IPO to bring in roughly $1 billion.