Brad Guzan had dislodged Given as the regular number one at Villa over the past few seasons and the experienced keeper has since been limited to a only handful of cup appearances this term.
During the current campaign though, Given has managed to shine in helping Villa to their fine semi-final run in the FA Cup and former goalkeeper James believes that if the 39-year old can guide Tim Sherwood's men to glory in the competition - he could well be the new number one between the sticks next season.
James said: "Shay has been magnificent especially as he made his debut at around 18 years old. He's never played in an FA Cup final-winning team.
"He moved to Man City but with Joe Hart coming through he didn't have as much joy as he would have hoped. I'm not surprised because I'm a big Joe Hart fan. To then go to Villa and play well, albeit in the cups, he should be asking to be No.1 next year.
"He's earned the right to play and if Villa do go onto win the FA Cup we could be looking at a new No.1 next season."