In a clip called Bound 3, James and fellow actor Seth Rogen re-enacted Kanye’s music video for Bound 2, which featured Kim topless. The video follows Kim and Kanye as they ride through Monument Valley on a motorbike.
The parody was shot clip-for-clip, with James as Kanye and Seth, with his top off, playing the part of Kim.
Speaking on The View, James said: “Kim loved the video and we didn't hear back from Kanye so we kind of felt like he's not bashing us, but he probably hates it but he's not going to say anything."
He then added that Kanye finally got in contact two weeks ago.
"But then two weeks ago, we got a call from Kanye," he continued. "Seth and I were on the phone. We thought he was just going to let us have it. But he loved it. And I'm pretty sure I can say it now because I'm pretty sure it's not going to happen. He wanted us to perform it live the night before his wedding at Versailles."
Seth Rogen with James Franco in Bound 3
He also joked that he is glad it is more than likely not going to happen, as Seth will have to get naked.
"I think it would have been awesome for about 10 seconds, but then there would be Seth with his shirt off in front of all the Kardashians," James joked.
Kim and Kanye will be married in a private ceremony on May 24.
James Franco on The View with Chris O'Dowd
Speaking to Ryan Seacrest, Kim said: "As we go along, we're realising we want it to be smaller and more intimate than people are imagining and thinking."
The reality star couple, who are parents to nine-month-old North, got engaged on Kim’s 33rd birthday last October with an extravagant proposal that aired that on Keeping Up With The Kardashians.