The Welsh swordsman was warned to be on his best behaviour and not to date any contestants or co-stars after landing the presenting job.
But this will all change if he is sacked from the show next year.
Jones said: "If I ever leave X Factor, Scherzinger's phone will be smoking hot from me ringing it constantly — if we are not colleagues then she's fair game."
Steve — who has dated a string of famous beauties including Baywatch's Pamela Anderson, Oscar-winner Halle Berry and Hayden Panettiere, of Heroes — was originally hired to co-host the show with the former Pussycat Doll.
The pair were said to have "amazing chemistry".
But Steve was left to front the series alone after Nicole was promoted to the judging panel to replace Cheryl Cole. Despite being separated on screen, rumours of their closeness continued throughout the series.
They reached a peak when Nicole announced she had split from long-term love, Formula 1 racer Lewis Hamilton.
But Steve's chances of returning to US X Factor next year have nosedived after a lukewarm reception from American critics. And his fate appeared to be sealed after his embarrassing handling of 13-year-old Rachel Crow's eviction.
Steve failed to console the sobbing teenager when she was voted off, looking on awkwardly as Simon Cowell and the girl's mum tried to calm her.
He has admitted he finds it hard to say goodbye to contestants saying: "I'm there to ask certain questions and to move the show along.
"If I can't do that, then the programme makers and Simon will find somebody else who can.
"So it can be harsh for people to call me rude because I'm not rude... I am nice."
Simon is planning a shake-up for the second series after admitting being "too cocky" in expecting ratings of 20million. The show — which ended last night — averaged around nine million.
On his chances of returning to the show, Steve said: "There's been no contract conversations and there won't be until the New Year. If I'm back, great, if not, I'll do something else. Simple as that."