Emery has emerged as a serious candidate for the Manchester United managerial job if the club decide to part ways with Michael Carrick, who is under immense pressure heading into the international break.
Transfer expert Fabrizio Romano reported earlier this month that influential figures at United consider Emery an ideal candidate to lead the club's next project.
United clash with Emery's Villa on Sunday afternoon, a game where Carrick could be let go if he fails to grab a much-needed three points to move away from the relegation zone.
Speaking to Grosvenor Sport via Sportsmole, Friedel has opened up on Emery's United links, which he says the Spaniard cannot ignore.
"He has to think of now as opposed to in the future for your managerial career," Friedel said. "You could go somewhere else and you could last six games and be out. The head coach's job, it's ruthless.
"I think any top job that comes up, Unai Emery's name will be on the list. But I would be really surprised if he went to a club like Manchester United right now.
"If he can get Aston Villa in the Champions League another season after this, he can make an incredible team. They've gone through where they had to correct their wages and their finances.
"If he can get them there again, they'll be in a great place financially and to go forward, because then the stadium will be done, they'll increase their matchday revenue, they'll be able to spend a little bit more.
"I don't see Unai Emery leaving right now, or even wanting to, for that job. Some people might have a conversation because it's Man United, but I think if you really look at the state of the two clubs, I think you stay at Villa."
Emery has won the Europa League four times as a manager and has transformed Villa into a European side once more. The United board will keep an eye on him this weekend as he and Carrick go head-to-head.