The Spanish coach has been linked with a number of defensive options as his Citizens squad gears up to compete on three fronts in the second half of the season.
Guardiola claims that there are no names on the table yet, but he will hold talks with City's director of football Txiki Begiristain in the coming days before deciding on their targets.
The former Bayern and Barcelona boss told Sky Sports News: "We are evaluating if there's a chance to take one [defender]. I know Holger, he's a fantastic player, a fantastic guy, but he's a Bayern Munich player, and we should first of all speak with them and with him.
"Now, on the table, there are no names because we had a lot of games. But now we have 10 days until Everton, so we have time to discuss with Txiki, with the club, what is the best for the rest of the season.
"We have to speak about the situation. When we arrive now in the Premier League, in the FA Cup, in the Champions League, if something happens with the injuries we don't have enough."
In October, Badstuber accused Guardiola of ignoring him during their time together at the Allianz Arena, but it is understood that the relationship between the two has since improved.