During a call with analysts on Tuesday, Musk was asked how he viewed a merger. He described it as "a minefield" but said it would be "a good idea."
According to Musk, committees made up of independent board members from the two companies have been established at the request of shareholders to investigate the issue.
At the same time, he said there was no guarantee that a merger would take place and that he had not been able to participate in the discussions because doing so could pose a conflict of interest.
Musk is the CEO of both publicly traded companies. SpaceX presented its quarterly report on Tuesday evening, local time in Sweden.
