Google is on a mission to deliver Internet access to underserved areas, and it's now reportedly looking to Elon Musk and his SpaceX team for help.

The Web giant is gearing up to make a huge investment in the rocket maker as part of an effort to develop satellites that could beam low-cost Internet to areas of the world that currently don't have it, according to a new report from The Information, citing several unnamed people "familiar with the talks."

"The price and terms Google and SpaceX are discussing couldn't be learned although one person familiar with them said Google has agreed to value SpaceX north of $10 billion and that the size of the total round, which includes other investors, is very large," the report notes.

The Wall Street Journal corroborated the rumor, and added that the investment could total roughly $1 billion. At this point, it's still unclear what exact stake Google will wind up with in the rocket maker.

If the deal goes through, it wouldn't be Google's first effort to spread Internet access to unconnected areas of the world. The Silicon Valley giant over the past several years has been experimenting with using high-flying balloons and drones to help establish Internet access in areas that are very difficult to wire up, like jungles, archipelagos, and mountains.

With its Project Loon effort, Google is deploying large helium balloons equipped with antennas that offer 4G-like signals to homes and phones some 12 miles down below. Rival Facebook has similar ambitions, and is also looking at looking at drones, satellites, and lasers to assist in providing Internet access worldwide.

Musk, meanwhile, also wants to wire up unconnected areas—like Mars. Musk recently tipped a brand-new global communications system that would be able to provide low-cost Internet service that's of a reasonable speed (and good connectivity) to the billions around the world who don't have it. But at some point, the move might help get a global communications network up and running for a Mars expedition.