The Denmark international has long been linked with a move away from the Emirates Stadium.
However, the forward's wage demands are thought to have acted as a deterrent for potential suitors, with Malaga boss Bernd Schuster urging the former Juventus loanee to consider accepting a salary cut for the good of his career.
Bruce, who has previously recruited Bendtner on loan spells for Birmingham City and Sunderland, says that he would happily swoop for the Dane on a permanent deal if the club could afford his "huge salary".
"Everyone assumes [an interest in Bendtner] but the problem with Nick is can I afford him?," he told reporters.
"He has a huge salary. I've been able to get him on loan at my last two clubs.
"I know the lad, he has terrific ability but it's difficult with the amount of money he earns at the minute."
Bendtner has netted 45 times in 156 appearances throughout his eight-year spell in North London.