The two became firm friends after Paltrow starred alongside Hill's husband Tim McGraw on forthcoming film Country Strong, and now hope that they will one day become family.
In an interview with In Style magazine, the pair joked that they want Paltrow's four-year-old son Moses to hook up with Hill's nine-year-old daughter Audrey.
'Moses...we might really become a family when he marries Audrey!' Paltrow chortled.
'Don't you just love our babies?' Hill added.
Country Strong is scheduled to be released January 7, 2011.