Carl Barat believes there would be "too much furore" if he and Pete Doherty reformed The Libertines.
The indie rocker is about to make his stage debut this month, but Doherty - who was kicked out of the band in 2004 due to his drug addiction - has repeatedly spoken of his desire to work with Barat again.
Barat told The Times: "I'm far too busy at the moment, and there's too much furore that would surround every little movement - if we're going to do it, I'd rather do it properly and give it 100 per cent, but he's a funny one, that Pete..."
The 31-year-old musician revealed: "I've said before that my relationship with Pete was a bit like an intense love affair. There was a level of romance, certainly. Not physical, of course, but we definitely share an intimate understanding. Nowadays we don't talk that often - maybe a couple of times a year there might be a text. But there's a strong bond and a kind of understanding."
Barat is appearing alongside Sadie Frost in Fool For Love at London's Riverside Studios, a play about the rocky relationship between rodeo rider Eddie and his lover May.
Barat said: "It's a violent, love-hate relationship, two people stuck in a rut, in a perpetual wheel of tragedy, one that's doomed from the start.
"I've known Sadie for ages, just from parties and stuff. We were never that close, but we get on well. Dramatically, there's a real rapport between us."