As recently reported, Eminem's new album, with Dr. Dre and 50 Cent, is expected to feature an appearance by Elton.
The pianist may also be a guest on one of Pelé's upcoming CDs.
The footballer has spoken with Elton, Mick Jagger, Bono, Rod Stewart and Paul Simon about working together.
In 2006, the legend's first solo album, Pelé Ginga, was released in Europe. It contained a dozen tracks, all original compositions recorded in Sao Paulo.
Pelé has loved music since he was a boy, listening to his father play the cavaquinho - a kind of Brazilian ukulele - at home in Bauru.
Playing at Santos, there was a ''lot of time hanging around team hotels doing nothing.'' So his way of passing the time was to write songs and play guitar. He ended up penning over 500 songs . . . some of which ended up being recorded by Brazilian pop stars.
Pelé also penned a duet, Perdao Nao Tem, which he performed with Eliz Regina.
It was in 2000 that the Rocket Man and footballer met. This was at the gala party to mark the closure of Wembley, where the latter scored the 'last goal' before the demolition of the old stadium.
''I told him that I really liked his song Nikita - when we got back to the hotel he sang it on the piano for me.''