Confirmation that Capello intends to retire after the Euros in 2012 led to Tottenham manager Harry Redknapp floating Bruce as a suitable candidate yesterday.
When Bruce was asked whether he would welcome the chance to manage his country, he was quick to reveal his interest in the role.
But the Sunderland manager knows the only way he could be seriously considered is by ensuring progress continues at the Stadium of Light, where he has just entered his second year in charge.
It's very kind of Harry. If you are English, to manage your country must be the highest accolade of every manager's career, said Bruce.
Whether you get the chance, who knows.
It's very difficult for us because we don't seem to get the top, top jobs. If Harry is saying it then I would have thought he would be the contender, I will throw it back at him. There's not many of us around.
The Football Association has hinted on a couple of occasions that their next managerial appointment will be English, significantly reducing the number of options available who are in charge in the Premier League.
Bruce is one of only six Englishmen managing in the topflight's 20 clubs Redknapp, Roy Hodgson, Sam Allardyce, Tony Pulis and Ian Holloway are the others and admits he would not even think twice about taking over the role.
Of course I would, I would love to have a go at it, he said.
If you are going to do it it must be the proudest time of your life to go and manage your country, even though we know what goes with it. It would be wonderful.
It would be worth the strife. 100 per cent.
You have to have thick skin mind, but coming up here you need it too. If you are going to do something, you should always strive for the top.
That has to be the highest accolade. It's all about timing.
It will be what I do with this team over the next 18 months. There might be a new kid on the block who comes out of the woodwork, like Ian Holloway.
Could anyone have done a better job that that It's all about timing.
Bruce hopes his comments do not reflect badly on his determination to turn Sunderland in to a top ten force.
If I was offered the England job, or even if I was in the frame, that means I will have done a good job at Sunderland,
said Bruce, who never earned a full England cap as a player.
That's the way I look at it.
This job at Sunderland is a terrific job and I have a fantastic one.
Capello took over from Steve McClaren in December 2007, but Bruce is a firm believer the FA should not be looking foreign in the future.
The guy in the job has an unbelievable record, like the Chelsea guy, Carlo Ancelotti, it is staggering what Fabio has done, said Bruce.
But can you imagine an Englishman managing the Italians, the Germans, the French
I'm not saying it shouldn't but in an ideal world I think it should be an Englishman in charge.
We have had great English managers before, we have had some bad ones as well, but why not.