Earlier reports had suggested that the Superbad star was holding out on the film version of the US sitcom, despite all of the other main cast members having signed on.
However, Bateman, who played his on-screen dad, has insisted that the actor has not completely ruled out a return.
"I know he's thinking about it," he told E! News. "You'd have to get [Michael] on the phone to get his answer about whether he's going to come back and do it or not. He's certainly not said that he won't do it.
"I think Michael is clearly the guy that has come out of Arrested Development with a very big plate, so I think he's trying to really give some responsible thought to what makes sense for him to do with his career.
"The guy is 20 years old and I'm sure he doesn't want to screw up this opportunity."