The news was revealed to around 40 dedicated Pumpkins followers at a specially arranged 'fans meet' in Camden, north London, last Saturday.
It was arranged by an American woman, known as the Pumpkin Queen, who is a friend of singer Billy Corgan and has established herself as a link between the band and fans, mainly online via her MySpace.
A VF reader, who attended the meet, told us: "The news came from the horses mouth so to speak. There was a Pumpkins meet in Camden on Saturday with the lady who does all the band's online work. She calls herself the Pumpkin Queen.
"She said that the band were confirmed to do a handful of European festivals and were booked for one in the UK. She also said there may be a few smaller shows, but no proper tour."
Speculation has been rife that The Smashing Pumpkins would play a UK festival, ever since Corgan announced the band's partial reunion earlier this year.
Internet rumours and blogs, as well as the band's distinct rock sound, suggest the Carling Weekend: Reading and Leeds festivals would be the most likely contender. The US rockers would fit well in the Sunday night headline slot, following in the footsteps of Pearl Jam and Iron Maiden, however debate rages on internet forums as to whether the band still commands such a high billing.
Mean Fiddler's Melvin Benn, who organises the Carling Weekend, told VF: "I would definitely buy tickets to see The Smashing Pumpkins but at this moment in time, where Reading and Leeds are concerned, we have made no offers and are still considering our options for headliners."
Other possibilities for a reformed Pumpkins could include T In The Park or Download. There is also speculation of a first live outing at the US festival Coachella in April 2007.
The Smashing Pumkins shot to fame in the '90s on the back of albums 'Gish', 'Siamese Dream' and 'Mellon Collie And The Infinite Sadness'. They split acrimoniously in 2000 after a period of internal fighting, drug use, and diminishing record sales.
However, in April this year, singer/guitarist Billy Corgan and drummer Jimmy Chamberlain announced a surprise reunion. The pair are currently in the studio writing and recording songs with former Queen and The Darkness producer Roy Thomas Baker.
There is still no news on whether former members, James Iha, D'Arcy Wretzky-Brown or Melissa Auf Der Maur will be joining the band at some stage of the recording process - or when they tour.
None of the major UK festivals have announced details of their 2007 lineups and much of the above information is based on reports from readers and internet speculation. Click on the links below for more info on the events mentioned and the latest rumours as to who might be playing them in 2007.