Original KISS guitarist Ace Frehley hasn't ruled out a reunion with his former band, saying that "if it was handled correctly, it could be great."

Rumors about Frehley's return to KISS gained strength earlier this year after he teamed up with KISS lead singer Paul Stanley on a cover of FREE's "Fire And Water", marking their first collaboration since 1998's "Psycho Circus".

Ace told Eddie Trunk of the "Trunk Nation" radio show earlier this week that his relationship with his former bandmates was never bad as it was portrayed by the media. "However the press colors the fact that we don't get along, in reality we do," he said. "You know, we have disagreements and things are said sometimes, taken out of context. But I've always been friends with those guys and they've been friends with me. We may not have agreed about certain things over the years and maybe there were times we didn't talk. I mean, we created something amazing that withstood the test of time."

Frehley's version of "Fire And Water" appears on his covers collection "Origins, Vol 1", which received great reviews and landed in the Top 25 on the Billboard album chart.

"Working with Paul again, it was almost as if I had never left the band," Frehley said. "I mean, the chemistry was still there. I wasn't sure he was gonna do the video. When he agreed to sing on 'Fire And Water', that was a great accomplishment. The record company said, 'You think Paul will do the video?' And I said, 'I don't know. I'll give him a call.' And he was very receptive from day one, and I was really amazed and thought it came out fantastic."

He continued: "Me and Paul have been through a lot over the years. But whenever we hook up, it's like we've never been apart. He was a consummate professional. And I said to him after we had done, like, fifteen takes, I said, 'I'm gonna shoot some smoking-guitar stuff.' And I go, 'You don't have to hang around, Paul. You can split. I really appreciate all the time you've invested in doing the video.' And he said, 'No, I'll wait around in case you need me.' And it was just terrific. He was a real trooper that day."

Asked about the rumors that he will re-team with KISS for one last run of shows before the band calls it quits, Frehley said: "I haven't been contacted. I'm not ruling it out. It's a possibility, I guess. But the ball's in Paul and Gene's [Simmons] court. If that's something that they would like to do to end off the career of KISS, I think it could be… if it was handled correctly, it could be great. But those guys pretty much run the show these days. And I'm doing my thing, and they're doing their thing. And if it happens, it'd be great, and if it doesn't, I'll be fine and they'll be fine."

Pressed once again about the persistent rumors that he has been in touch with the KISS camp about a reunion with his former band, Frehley said: "There's been rumors for years, and the rumors are probably… There's a lot more rumors going around now than there were a few years ago. But, you know, rumors are rumors."

Frehley also confirmed that he has begun working on music for his next collection of original material, tentatively due in 2017. He said: "I've been writing on and off for the last month, and I'm just about to start tracking. I'm finishing up my drum room here in [my] new [house], and I'll be able to start tracking by the weekend. So, anything can happen. I hit the 'record' button and just start jamming, and magic happens. [Laughs]"

Other high-profile artists guesting with Ace on "Origins, Vol 1" are Slash, Lita Ford, Mike McCready and John 5.

In addition to the FREE track, Ace and his guests tackle key classic rock touchstones by CREAM, STEPPENWOLF, LED ZEPPELIN, THIN LIZZY, THE JIMI HENDRIX EXPERIENCE, THE ROLLING STONES, THE KINKS — and even KISS.