The Black Cats have been left exposed between the sticks after seeing first-choice shot-stopper Craig Gordon suffer a broken arm.
The Scotland international is set to be sidelined for the foreseeable future, meaning he will miss the all important opening weeks of the new season.
Sunderland do still have Marton Fulop on their books, who would provide able cover, but he is pushing for a move elsewhere after finding himself resigned to back-up duties over recent years.
Bruce, therefore, has an important issue to address with the Premier League season edging ever closer and has revealed that veteran keeper James could fit the bill.
The 39-year-old is currently available as a free agent after parting company with Portsmouth, and has been strongly linked with Celtic of late.
However, Sunderland could be about to make their move, with Bruce ready to offer the former Liverpool and West Ham man a short-term deal.
"James could be somebody that we're interested in because of the problem with Gordon," said the Black Cats boss.
"We had had a conversation with David's representatives and I'll make my mind up in the next week or so.
"It's something I didn't want to happen because I was very happy with Craig Gordon and how he did last year.
"David James has talked to Celtic, which we always knew he was going to do.
"I don't think he is trying to play one off against the other. He is just keeping his options open at the moment, but we're still hopeful something will happen."