Spacey and Mendes both won Oscars - for Best Actor and Best Director - for their work on the 1999 movie and the filmmaker has gone on to join the Bond franchise by directing Daniel Craig and Javier Bardem in Skyfall.
The actor now hopes he will be given a job if his pal is asked to take charge of a second Bond film following Skyfall's huge box office success.
He tells British newspaper The Evening Standard, "I would hope the Broccolis (Bond producers) agree and that Sam is going to do the next one. That would be a lot of fun. I adore him. I had some of the most seminal experiences of my career with him, both a decade ago with American Beauty and last year with Richard Iii (at the Old Vic theatre).
"It would be sublime to work with him again. It doesn't surprise me he has had such a big success with Bond."