Guardiola, who is on a year's sabbatical in New York, fancies moving in at Old Trafford when Alex Ferguson  retires, who might do so by the end of this season.
If not, Guardiola would be prepared to hold out for another year, The Sun reports.
According to the paper, Fergie and Guardiola are close friends and have met privately in New York.
"The whole history of Manchester United, his relationship with Sir Alex and the way the club is run appeals to Pep," a source said.
"Right now I'd be astonished if he went to Chelsea. He really wants to wait for the United job even if it means extending his time out of the game," he added.
Guardiola wants to be able to concentrate on all aspects of the football club without interference from above, the apper said. (ANI )