"Victoria sees 2014 as a year to concentrate on her fashion label, not her music. She loved performing at the Olympics and reuniting, but that was a special event," said a souce.
The group, formed in 1994, comprised Mel B, Melanie Chisholm, Victoria Beckham, Emma Bunton and Geri Halliwell.
"Mel B has been working on project Spice 20 and sees that as a great opportunity to bring them all together," the source added.
However, this can also be a great opportunity to earn great amount of money for the group.
"Victoria feels she won't have the time or desire to work on performing live again. Mel is always pushing for Spice projects. Her stint as a judge in Australian and American shows mean her profile is huge. Any Spice comeback would mean millions in the bank," said a source.