The BBC Radio 2 DJ was in talks to join the ITV talent show in 2014, but eventually lost out to Spice Girl Mel B, who went on to serve as a judge for one series.
Asked if she would still fancy joining the show and following in fellow radio DJ Nick Grimshaw's footsteps, Sara told HuffPost UK: "I think that boat has sailed a bit because I was up for it the same time as Mel B and that was a couple of series ago now.
"Also being friends with Grimmy, I feel like I have almost half done it because I heard lots from him, I watched him, and I was really proud of him."
She continued: "I feel like I've done a lot of judging from my sofa, so that's fine.
"I don't think they'd ask me now, but it was definitely exciting to be in the running," she added.
Grimmy has already announced his departure from 'The X Factor', after just one series as a judge, with Louis Walsh rumoured to be returning to his old seat.
Cheryl Fernandez-Versini's future on the show has been cast into doubt, with the news she is holding "crunch talks" with Simon Cowell, amid reports original judge Sharon Osbourne could make another comeback.
The shake-up for the 13th series of 'X Factor' has already seen Dermot O'Leary return to his role as host, replacing Olly Murs and Caroline Flack, who presented in 2015.