The bass player and singer now fronts new band Loaded, but is hopeful he will reunite with legendary guitarist Slash, drummer Matt Sorum and guitarist Dave Kushner for a third album with the supergroup.
When asked if Velvet Revolver would continue - despite parting ways with vocalist Scott Weiland in 2008 - he told the Daily Star newspaper: ''I hope so because it's a damn good band.
''Slash and I are family. He will be my brother until the day I die and I want to play with him again and we will.''
Duff, Slash and Matt were also at one time members of GUNS N' ROSES, before forming Velvet Revolver in 2002. They have released two albums to date, 'Contraband' in 2004 and 'Libertad' in 2007.
After Scott's departure, the group launched a search for another singer, but although there were many people in the frame including Myles Kennedy, Sebastian Bach and Slipknot singer Corey Taylor, they ultimately decided to go on hiatus instead.
The band did reunite with Scott - who is also singer in Stone Temple Pilots - for a one off benefit show in January this year, after which the vocalist expressed an interest in returning to the group permanently.
While Duff has his Loaded project, Slash has released two solo albums, and Matt is also a member of all-star covers group Camp Freddy and The Cult.