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"They are making a Magneto spin-off but I don’t think it will involve me because it’s about the younger Magneto, it’s a back-story."
But surely with the anti-aging special effects employed in the third X-Men film he could well reprise the role, at least for a cameo?
"Would I be willing to return to play a young Magneto? A cameo in my own movie? I don’t think so," he said. "I don’t think I could get away with playing a 19-year-old."

Details of the plot have remained vague thus far, but Shuler Donner was happy to tell us shed a little light on things. "We have a script on Magneto which is actually sort of Magneto and Charles Xavier," she said. 'It's Eric and Charles in their early, early years."
And, as if to further confirm that, the industry bible Production Weekly has added a synopsis for the Fox film, which suggests that Xavier "was a soldier in the allied force that liberated the concentration camps" in which Magneto is interred at the beginning of Bryan Singer’s X-Men.
"The professor meets Magneto after the war and while they bond over the realisation that they are alike in their special powers, their differences soon turn them into enemies."