Both Xabi and his club, Bayer Leverkusen, announced this week that he would be leaving his job a year before his current deal is due to expire.
Xabi is expected to return to Real Madrid and replace Ancelotti. However, ahead of Sunday's ElClasico at Barcelona, Ancelotti was offering little regarding the topic.
He said, "All doors are open to him.
"The honeymoon with this club continues and will continue forever. Nothing more to add. Madrid, like Milan, remains in my heart more than others, it's normal.
"The honeymoon continues; like in all relationships, at first there's a lot of passion and then other things come, affection grows... It will be a honeymoon until the last day of my life."
Anything can happen
Meanwhile, on tomorrow's clash at Montjuic, Ancelotti admits a win against the LaLiga leaders will open up the title race.
"Playing against Barcelona is always complicated, even more so this season, although in the last game it was a little less so. We have to defend very well, because they're a team that pins any opponent down in their own half, not just us.
"There's no such thing as a perfect team. We're going to have our chances and the goal is to take advantage of them.
"I will explain very well what tomorrow's game will be like. If we win, the LaLiga season opens up, and anything can happen..."