The two pop singers originally fell out after openly gay Boy George criticised Michael for not coming out as homosexual in the 80s - when he was styled as a ladies' man - but they have now worked out their differences.
Boy George said: "We have exchanged emails and things are pretty good between us. We've spoken a couple of times and he's doing OK."
Since their fall-out, the singers have exchanged a series of catty remarks about each other in the media.
Boy George, 48, previously admitted he was upset that while he was comfortable with his flamboyant image and dealt with the pressures that being homosexual in Britain in the 80s attracted, Michael, 46, was living a double life.
He said in 2005: "People saw me as the benchmark queer while George Michael was passing himself off as a straight stud. In fact, he was loitering in public loos like some pre-war homosexual. It's one thing to keep quiet. It's another to pretend you're someone you're not."
Michael only came out after he was caught by a police officer "engaging in a lewd act" in a Los Angeles public toilet in 1998.
The 'Faith' singer has previously accused his pop rival of "homophobia" toward him.
He said: "Boy George is great company and a man I have always wanted to like. He acts in a homophobic way to other gay men by being such a b***h. It's an aggression that he can't get rid of."