Goal reported earlier this week that City have made Alexis one of their top targets this summer, and that the Chilean would favour a move to the Etihad Stadium.
City know that they will have a fight on their hands to prise him from Arsenal, who will be reluctant to sell to a Premier League rival.
The Blues will be busy in the transfer market this summer as they intend to bring in a new forward, central midfielder, several defenders and a goalkeeper.
And while Guardiola acknowledged that there will be a lot of transfer activity in the coming months, he did was keen not to discuss Alexis specifically.
“It’s not time to talk about that,” he said. "Players who might stay here, [new] players for the next season, it is not time, we have a lot of business to do.”
Guardiola also insisted that City captain Vincent Kompany could have a role to play at the club heading into next season.
The club are in the market for new defenders and there is a sense that Kompany could be moved on given his persistent injury struggles.
The Belgian has started just six matches this season, but Guardiola suggested he could yet be part of the squad beyond the summer even though he has suffered another set-back since he returned to the line-up at Chelsea.
“Yes,” he replied, “he has a contract. "After Chelsea he reacted and had problems in the leg and we didn’t want to take risks. The good thing was he was able to play 90 minutes in a tough game at a high level.
"What I’ve seen in the last few days he’s ready for the next game. Hopefully in the next period and the future he can do that."