Never say never.

So says John Chambers, Cisco Systems’ President and CEO regarding the possibility of a potential merger with Nortel Networks.

“I believe in strategic partnerships. I would love to have Nortel as a partner,” Chambers told a question and answer session after a speech in Toronto. “I believe going to market together is the way of the future.”

Further whetting the appetite of investors and tech junkies alike, Chambers said, “I'm at the altar, I'm not playing hard to get.”

Nortel chief executive William Owens said on Thursday he is open to partnerships, but has not discussed the idea with Cisco.

“I know John Chambers, but I have not talked to him about partnerships,” Owens told Reuters. “Nortel is open to strong partnerships and we would be open to discussions.”

Nortel’s stock rose on the partnership chatter, closing the day up 7.58% at $4.40 on the NYSE.

Hmm… I wonder if the original Bay Networks corporate logo would be included in the deal?