Sudeikis has remained tight-lipped on whether he will be back on SNL this autumn, but there has been speculation that he will at least reprise his Mitt Romney impression for the pre-election shows.
Speaking to The Los Angeles Times, the actor suggested that he would like a greater creative role if he returns to the sketch comedy series.
"I'd like the opportunity to use creative muscles that... haven't been asked of me for the first nine years that I've worked there," Sudeikis explained, adding: "It could be some sort of title change."
He went on to say: "The least of the concerns is anything financial. I'm not buying a boat because of writing skits. It's more having a desire to give more to a place I really believe in. To stay just for the juice of being in the public eye - of being Mitt Romney - is not enough."
Sudeikis further commented that his frequent movie roles have led him to contemplate life after Saturday Night Live.
"You start at SNL when you're young and hungry, but I don't want my pro years to be my SNL years," the comic said as he compared sketch comedy to basketball.
"[SNL] is me getting to play for KU or Duke or North Carolina, with pro-calibre people, but I don't want this to be it."
Saturday Night Live's 38th season is expected to begin in September on NBC.
Watch Jason Sudeikis on Saturday Night Live below (US only):