The 73-year-old singer was an original member of the band, which also featured guitarist Jeff Beck, Ronnie Wood on rhythm guitars and various drummers and bassists, until they split after two years in 1969 and he'd like to see them put their differences aside and go out on the road again.
He said: ''I'm still in contact with Ron. He sends me videos of his kids.
''But with Jeff, we did try and get together again. I still don't think it's too late for us to shrink our egos a little bit and do it.''
Rod and Ronnie went on to team up with Small Faces members Ian McLagan, Ronnie Lane and Kenney Jones to form The Faces and though both Ian and Ronnie Lane have passed away, the 'Maggie May' hitmaker would love to get back on the road with drummer Kenney and the Rolling Stones guitarist if their schedules will allow it.
Asked if he's still in touch with Kenney, Rod told Uncut magazine: ''I might invite him over for Christmas once or twice if we're having a party at the house but we don't keep in touch like me and Ron do.
''There's always a chance of the Faces getting back together.
''Just every time I'm about to start a tour, the Stones are going to start a tour, then I start and they star. We can't go on forever. But I said that 20 years ago.''
Rod and Ronnie initially bonded over their big noses and love of fashion.
Rod recalled: ''We introduced each other. I said, ''Ello Nose' and he said, ''Ello Nose'. We both had big noses.
''I think what brought us together was our sense of clothing - we both liked style - and our unique sense of humour.
''That's bonded us together over the years. I don't see so much of him now, of course.''
Sometimes actors are not acting.
We pay tribute to the Queen of Soul, Aretha Franklin, who passed away this week at the age of 76.
'Stage Fright' was released on August 17th, 1970.
We can't wait until the Fall for this gritty historic thriller.
From Robbie Williams to Olly Murs, these musicians are still football mad.
It's a far cry from The Beatles' 'I Wanna Hold Your Hand', but Paul McCartney has unveiled a risque new single entitled 'Fuh You'.
Which of Madonna's many hits do you think is the best?