The legendary Italian manager was sacked from his role at Bayern Munich this week and rumour has it that West Ham are interested in snapping him up.
The Irons are 18th in the Premier League after winning one of their first six games this season and the pressure is on Bilic ahead of Saturday's clash with Swansea City.
The rumour is great news for West Ham fans, because he has won three Champions League titles, but it's also excellent for Newcastle United fans.
According to The Telegraph earlier this month, Newcastle boss Rafael Benitez would "express some interest" in taking the reins in East London if the job was vacant.
But their reported interest in Ancelotti means that Magpies supporters shouldn't be hugely concerned about the prospect of the Hammers snatching their manager.
With what happened at St James's Park during the summer - or what didn't happen in fact - Benitez is successptible to being lured away from Newcastle and Mike Ashley, but if West Ham appoint Ancelotti then the Spaniard might well wind up staying in the North-East for a little while longer.