Reports suggested that the striker was set for a shock inclusion in the squad for Thursday's game, although the 29-year-old was labelled as extremely doubtful for the last-16 second leg clash.
Bellamy was ruled out of action for six weeks after suffering a knee injury against West Ham on 1st March, but has made a speedy recovery and boss Mark Hughes suggested the front-man would be available.
But Hughes has instead chosen not to take a chance on the Wales captain and will assess the fitness of his January summer signing for the home Premier League clash against Sunderland on Sunday.
The good news for city is that Robinho and Vincent Kompany make the trip to face the Danish champions after their injury doubts.
Forward Robinho has been struggling with an ankle knock, but the Brazilian ace has been passed fit, while midfielder Kompany has trained with the first team this week after being out with a toe injury and will have a late fitness test.
PainWhen asked about Kompany, Hughes told Sky Sports News: "It is a lot better than it has been, although he is still having a bit of pain.
"He had a run out for the first time and we will make a late decision on him. Hopefully we will have the option because he will give us that little bit of strength in the middle of the park we maybe lacked at the weekend."
Hughes has warned his side against complacency despite their 2-0 advantage over Aalborg as the Blues boss bids to win City's first trophy since 1976.
He added: "They are a good side. People shouldn't underestimate the task that is ahead of us.
"They have caused good teams problems in the past and people shouldn't be distracted by how well we played in the first leg.
"They didn't play as well as people expected because of the manner of our performance.
"If they get ahead they are likely to cause you problems. We have to make sure we are in control of the tie."