With UFO sightings occurring on a daily basis, astronomers and companies are developing methods to communicate with extraterrestrial life via test messaging and a $1 billion telescope.

According to Design & Trend, startup company Lone Signal intends to develop a way to send messages to faraway star Gliese 526, a star commonly believed to contain extraterrestrial life.

The company reportedly wants to turn the space messaging venture into a business, using a leased radio telescope and allowing users to send up to four messages for 99 cents.

Lone Signal's chief financial officer hopes to "inspire a lot of passion in the space sciences and get people thinking about their role in the greater universe."

The company plans to start the venture by beaming Earth's position coordinates, the elements of the periodic table, and the hydrogen atom in binary code.

In addition, astronomers are designing a 250-foot telescope to search for alien life through heat detection. According to Times of India, the instrument, appropriately called Colossus, will cost roughly $1 billion to develop.

"If we had an investor come and say 'look, here are the resources you need', we could have the telescope built within five years," said University of Hawaii' Institute for Astronomy astronomer Jeff Kuhn.

Once built, the telescope should be able to spot signs of extraterrestrial life as far as 60 or 70 light-years away.

Unlike Lone Star's messaging system, the telescope is a passive system that would not pose any danger to Earth should alien civilization be detected.