Katy Perry and Taylor Swift have reached 'peace at last'

They may be collaborating, too!

Is the beef finally, finally over?

Katy Perry and Taylor Swift seem to be cooking something up together...literally and figuratively.

On Tuesday, Perry posted a photo of a plate full of chocolate chip cookies with the words "Peace at Last" written in icing on the plate.

She captioned it "feels good @taylorswift" with an orange heart emoji. Under the name on the Insta post are the words "Let's be friends."

Perry, 34, and Swift, 29, feuded for years until last year, when Perry tried to patch things up by sending Swift an actual olive branch on the night of her Reputation tour opener.

Predictably, fans are going crazy, not just at the news that the two are no longer at odds, but that the stars may actually be recording together. There is speculation that they are working on a song called "Peace at Last" or "Let's Be Friends," while others are connecting the orange heart in Perry's post to an orange heart Swift has previously used as a clue for a track on her new album.

There has been speculation that Swift's new album will feature a number of collaborations. Perhaps a duet with Perry is one of them? Stay tuned.