The group, who are currently working on their sixth studio LP, said in an interview with Digital Spy that it would be a "dream" to work with the 'Price Tag' singer.
Harry Judd said: "I haven't spoken to the guys about it but we're definitely open to collaborating again. We're just starting to play the label the new songs, so we'll see.
"In a dream world I'd love to work with so many people. A female artist would be great - Jessie J would be amazing, though she's obviously doing extremely well at the moment. In a dream world!"
The drummer also admitted that their forthcoming album will sound "a bit more raw" than 2010's Above The Noise, adding: "But we're still keen on keeping some of the more polished production in there. It's hard to describe at the moment!"
The band previously worked with Taio Cruz on 'Shine A Light', which peaked at number four on the singles chart in November 2010.
Judd recently admitted that McFly took their success for granted with their last LP, which peaked at number 20 on the charts.
> McFly interview: 'We can't imagine splitting up'
Watch McFly's 'That's The Truth' music video below: