The Festival Republic boss revealed that he will only consider booking the band if the original lineup reunited after the current members took to the stage an hour late at the event back in 2010.
Benn told NME: "I wouldn't have the current lineup, certainly not at the moment. It doesn't feel right.
"Of course if it was the original lineup, I would definitely consider it and if they could tell the time, it would be fantastic. With the original lineup it would be something very special."
He added: "We'd have to give them all a watch each, but we'd certainly try to get them if they reformed."
This year's Reading and Leeds Festivals will be headlined by The Cure, Kasabian and Foo Fighters.
> See the full lineup for Reading and Leeds Festival 2012
> Reading, Leeds Festivals 2012 to offer free beers and burgers
Watch Guns N' Roses perform 'Welcome to the Jungle' at Reading Festival 2010 below: