According to local news site ColoradoPols.com, Republican strategists in the state are urging her to run in a race that currently lacks any likely GOP contenders.
Rep. Cory Gardner's (R-Colo.) decision not to run, though expected, left the state party struggling to find a candidate to challenge Udall.
Stephens formerly worked for conservative group Focus on the Family lobbying on conservative issues, including abstinence education and anti-abortion-rights issues.
But she also drew the ire of some Tea Party supporters in the state when she sponsored a bill to create health insurance exchanges in Colorado, a key component of ObamaCare.
The purple tint of Colorado has given some Republicans hope they'd be able to mount a challenge against Udall in 2014, but he maintains high popularity in the state and has posted strong fundraising numbers so far this year, sitting on $2.5 million for his reelection fight at the close of the first quarter.