The 61-year-old musician has reconciled with singer John Lydon, drummer Paul Cook and original bassist Glen Matlock three times since the group disbanded in 1978 after two-and-a-half years together but has admitted it is unlikely they'll tour together anymore as the financial benefits aren't worth it.
Asked about the prospect of a reunion, he said: ''Not for the amount of money we make when we do reunions. If we were making Rolling Stones money, that would be different.''
And Steve admitted he doesn't have any contact at all with frontman John, and though there is no tension between them, he is happy for things to be that way.
He told Rolling Stone magazine: ''There is no friendship. He lives in LA, I live in LA, but we just don't talk.
''I think the last time I spoke to him was 2008 when we did a tour of Europe. I have no desire to speak to him and he has no desire to speak to me. That's totally fine.
''I wish him all the best. I've got no resentment toward him.
''It's just our marriage went wrong and we got divorced. You don't want to speak to your ex-wife, do you?''
Sex Pistols released just one album, 1977's 'Never Mind the B*****s, Here's The Sex Pistols', but began working on new music in 2003 - something Steve admits it was the ''worst thing'' they could have done.
He said of the mooted album: ''It was awful. It fell on its ass two minutes into it. It was the worst thing we could have done.''
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