"It's not true about Juventus," he told Corriere della Sera. "If I had already signed with Juve then why would I need to talk to Milan?
"I'll be speaking with Milan Vice-President Adriano Galliani in the coming days and then we'll make a decision. However, both parties have to agree. If there are the right conditions in place and if they are happy then I would be happy to stay. I'd spend another 10 years here."
AC Milan recently clinched the Scudetto but have still yet to decide on the future of certain high-profile players, with the contracts of Pirlo and Clarence Seedorf set to run down.
"It's now the time for the club to let us know of their intentions," Pirlo, a 2006 World Cup winner, added. "Everyone is free to make their own decision. If there is no more room for the old guard then there will be no problem. It makes no sense to remain here at all costs.
"But I still feel young, I feel as if I can play at the highest level for another three or four years. I'm sure of what I am saying. That's why a one-year contract makes no sense. I still want to win important trophies and for that reason it is right that I'll continue to play in Europe."