Twitter have made some major announcements this year — a new user layout and the upcoming launch of the very first real-time Billboard chart — but the biggest one may still to come. According to Re/code, the social media giant is “considering” a deal to purchase SoundCloud.

Read more after the jump…

The Berlin-based audio sharing site was valued at $700 million this year, which would make it Twitter’s most expensive acquisition, if the deal was to go ahead. Not only would buying SoundCloud provide a solution to Twitter’s user growth problem, but it would give them a second chance at succeeding in the music market after the Twitter #Music app was cancelled earlier this year.

Neither Twitter nor SoundCloud have confirmed the reports, but we’ll update with more details as they become available.

Related: Twitter Introduces New Profile Design, Basically Copies Facebook