With Zeppelin's singer Robert Plant insisting he won't tour with the band for at least two years despite Page and Jones being keen to hit the road, rumours are rife of a possible replacement.
In an interview with the Toronto Sun, Cornell says:
"I would never do anything like that whether I were approached or not. It just doesn't make any sense to me at all. I would not want to go see me performing Led Zeppelin songs with the two other guys that used to be in a band called Led Zeppelin while Robert Plant is out somewhere touring.
"That's not a ticket I would buy. God bless 'em, but that's not Led Zeppelin. I find it completely depressing. I'd never do anything like that. I mean just out of respect to the legacy of the band."
All bets back on Alter Bridge's Myles Kennedy, then? If this tour ever happens at all...
Cornell comes back screaming
In the meantime, Cornell is gearing up to release his third solo album, Scream. The former Soundgarden and Audioslave singer has surprised many by working with R&B producer Timbaland. You can hear Cornell's new single, Ground Zero, at his official website.
It's fair to say it's not very 'Led Zeppelin'. On blending his traditionally-rock vocals with Timbaland's state-of-the-art R&B production, Cornell adds:
"It's actually a collection of a lot of different influences in music, coming from a lot of different angles and creating something new.
"It's not Walk This Way (the Run-DMC with Aerosmith version) and I think P Diddy did some version of (Led Zeppelin's) Kashmir for the Godzilla movie. My album's not that."