During US Defence Secretary Mattis visit to Saudi Arabia durign April 2017, US pledges support for Saudi efforts to counter Iran's activities in the region. Mattis emphasizes that it is US interest to see Saudi Arabia being strong in terms of intelligence services and militarily.
The Defence Minister and the Saudi Arabia Deputy Crown Prince Mohammed bin Salman replied as importance of cooperation between two countries will continue to "curb and counter all the challenges in the region, either when it comes to the curbing of the fighting terrorist organizations or the malign activities of Iran that continues to unsettle the world."
Recently, the chief od Israeli Defence forces gave an interview to Saudi owned Elaph TV stating that "Israel and Saudi Arabia share the common interest when it comes to dealing with Iranian threat".
It is not suprising for two countries recognizing each other as threats to their national securities to cooperate and settle the differences for a while. However it would signal a major shift if that happens for both countries. If this happens, it might change the balances in the region.