He told US chat show host Larry King: ''It's not something that any of us have reached out to each other and said that we wanted to do thus far.
''So, rather than be a pessimist and say, 'No, it'll never happen,' it's not like I'm harbouring a lot of resentment.
''If it happens one day, it happens. If it doesn't, I don't think anybody's losing any sleep over it.''
Guns N' Roses became one of the biggest bands in the world with their debut album 'Appetite for Destruction' in 1987, but by 1994, the only original member left in the group was Axl, who continues to perform with the a different line up to this day.
The original members were all scheduled to attend the band's induction to the Rock 'n' Roll Hall of Fame in Cleveland, Ohio, last year, but Axl pulled out, and was booed at the ceremony.
He later issued a statement, thanking those who supported his decision.
He wrote: ''I seriously didn't plan on or expect the overwhelmingly positive response and public support for my decision regarding the Rock 'n' Roll Hall Of Fame.
''With such a generous outpouring of solidarity from fans, media outlets, writers and other artists, I'm truly humbled, blown away and unbelievably relieved.
''To be honest, I thought it would go the other way and was just hoping to weather the storm. As I said, I sincerely didn't want to disappoint anyone. It gets old being the outlaw even if 'it's only rock and roll'.''