The 'Lego House' singer played at the Children In Need Rocks Manchester concert earlier this month, where he discussed teaming up for a track with the Canadian crooner.
He told BBC Newsbeat: "There might be something happening with Buble we had a nice chat that night."
Although he has plans to work with the commercially successful 'Cry me a River' star, Ed has previously promised he will never "sell out".
He said: "Even if I wasn't successful with the next album, as long as I do what I want and I'm happy with it, it will be fine. I think the worst thing is when people call other people sell outs. If I got a bad review in a paper and thought 'oh f**k he's right' - that would be selling out.
"I come from a scene where we like to be credible and do what we want."
20-year-old Ed - famed for completing tours by 'couch surfing', staying over at fans and friends houses - added he is planning to continue releasing new material over the next year in the UK, but warned he's going to be spending a lot of time out of his home country to launch his debut album '+' internationally.
He added: "2012 is the rest of the world, the album is coming out everywhere else so I'm going to be away for a bit."