The Wall Street Journal reckons the separate entity would be called BBM Inc and would operate independently from the mobile manufacturing arm of the company.
The report also claims that BBM may also be making its debut as a desktop app this summer, making it available across all the major platforms and more able to compete with the likes of Snapchat, WhatsApp, iMessage and Google Hangouts.
A BlackBerry spokesperson refused to confirm or deny the speculation, saying: "We have announced our plans to offer this trusted mobile messaging service to iPhone and Android users sometime this summer. We have made no further announcements. We haven’t announced any initiatives to bring BBM to the desktop.”
“We think there is a great opportunity in bringing BBM to other platforms as people look for the right service to have even more engaged conversations on their smartphones.
“People are also becoming leery of how they share their personal information and mobile communication services need to be built for that. They are also looking for a simple, customizable interface and BBM brings that.”
The WSJ said BlackBerry wants to single out BBM as a "valuable asset" ahead of a "potential sale."
The company formerly known as RIM revealed earlier this month, it was looking at strategic options, which may include selling off the company completely.
In the past Lenovo has publicly expressed interest in buying out the smartphone pioneer, but it remains unclear whether the Chinese manufacturer will make a firm bid for the Waterloo-based giant.