The British rockers appeared at a press conference together on Thursday (16Feb17) announcing a new exhibition remembering the band at London's Victoria and Albert (V&A) Museum.
According to editors at Britain's Daily Telegraph newspaper, both men expressed an interest in a reunion performance at the legendary Somerset, England music event but admitted that any reunion plans depended on the feelings of David Gilmour, Pink Floyd's other surviving member.
"It would be nice to add it to the list of things. I've never played Glastonbury. It would be fun to do it," said 73-year-old Mason, before admitting. "I don't think it would be very likely."
Waters, 73, who has a famously fractious relationship with Gilmour, 70, also indicated he would like to return with the band to the Glastonbury stage he performed on as a solo artist in 2002.
"I did Glastonbury once. I think. It was really cold," he said. "But there were a lot of people and it seemed very jolly and I liked it. Yeah, I would do it again."
The founder of the festival, Michael Eavis, has previously said Pink Floyd would be among his dream headliners, but any reunion is dependent on Gilmour reversing his previous stance that he would not join a reunion even though his relations with Waters had thawed.
In a 2015 interview with the Telegraph, the veteran musician said, "Roger and I don't particularly get along. We still talk. It's better than it has been. But it wouldn't work. People change. Roger and I have outgrown each other, and it would be impossible for us to work together on any realistic basis."
Richard Wright, the keyboardist who was the other member of the band's most famous line-up, passed away in 2008.
The V&A museum's Pink Floyd exhibition opens in May (17).