REM announced their split in October after more than 30 years together, declaring in a group statement that they have nothing left to accomplishment.
Stipe has now reiterated that a comeback album or tour with Mike Mills and Peter Buck is extremely unlikely.
"Never say never, but we're not going to do it. If we ever did, we would tell you exactly why, and it would be because one of us for some reason or other really needed money," Stipe told CNN.
The singer added: "I don't see [a reunion] happening. We're being really honest by saying it's over, we love each other, we love what we did, [but] it's done."
Stipe said that he will remain on very friendly terms with Buck and Miller as they move forward with their lives.
"There's no animosity, there's no weirdness... we love each other, and have huge respect for each other," he explained. "We reached a point where it didn't feel like it made sense to carry on any further, and we happened to do that at a very high point in a 31-year career of highs and lows."
Stipe and Mills recently revealed that REM had planned to split for the last two years.
REM released their 15th and final studio album Collapse Into Now in March.
> REM's Michael Stipe will not go solo, says Mike Mills
> REM will never share a stage again, says Mike Mills
Watch REM's 'Everybody Hurts' music video below: