Selway told BBC 6 Music that the band are currently discussing plans for possible future live shows.
"Absolutely, that is what we are talking about at the moment. It felt exciting doing that and it felt like we had something else to offer musically," he said.
"It just felt like a new lease of life in what we are doing, and we would like to see where that takes us."
Radiohead's Glastonbury performance was the band's first in more than 18 months. Their previous UK gig was their headline appearance at the Reading and Leeds Festival in 2009. Their last UK tour took place in 2008, with four large outdoor performances.
Meanwhile, the group have also announced plans to release a new EP featuring remixes of tracks from The King of Limbs. It will be released through selected indie record stores, as well as their website, next month.
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Watch the video for Radiohead's 'Lotus Flower' below: