The eccentric singer - who is currently on her worldwide 'Monster Ball Tour' - admits discussions were ongoing about her being the support act for Michael prior to his death in June 2009.
She told Larry King: "You know, it's always very difficult because I don't necessarily like to talk about those very personal things that happened. But I guess I can speak about it now.
"I was actually asked to open for Michael on his tour. We were going to open for him at the O2 and we were working on making it happen. I believe there was some talk about lots of the openers doing duets with Michael on stage.
"But Michael's death was devastating for me regardless of whether or not I was supposed to go on tour with him. He's such an inspiration and a remarkable human being."
Despite not being keen to discuss her emotions, the 24-year-old 'Alejandro' hitmaker recently broke down on stage when talking about her ill grandfather.
Speaking at the first show of her UK 'Monster Ball Tour' in Nottingham, England, Gaga broke down while performing her ballad 'Brown Eyes'.
She told the audience: "If we all sing loud enough, maybe he can hear us!"