The Cardiff City ace retired from international football last month with 78 caps following Wales' failed World Cup qualifying campaign.
Boss Chris Coleman is yet to sign an extension to his current deal, which expires this month.
Further talks are expected with the Welsh FA this week but should the parties fail to reach agreement, 34-year-old Bellamy thinks it would be too soon for him to take on the role.
However, he would love to be at the helm one day.
He told the Daily Star Sunday: "Managing my country is a job I would take seriously and something I would like to do - but who knows when?
"For me, talk is just talk at the moment. I don't think anything will happen now."