Owen's future has been the subject of much speculation during the summer, with Stoke interested in the striker throughout. However, there has also been talk of a sensational return to Liverpool after the Reds loaned out Andy Carroll.
Pulis is still hopeful of bringing Owen to the Britannia Stadium, though, and confirmed that any deal would be a pay-by-play one.
"I would love to sign Michael," Pulis told The Sentinel.
"If we can do it, we will do it, and do it on the basis that we did with Jonathan Woodgate and players like that. If he's in the team he will get paid, and if he isn't he won't get paid so much."
Owen, 32, has scored 149 Premier League goals and is a former Ballon d'Or winner.