Roger Karnbad/Celebrity Photo
05/11/2011 at 07:00 PM EDT
It's been almost three years since Michael Bolton and his ex-fiancée Nicollette Sheridan parted ways
. But the Grammy-winning artist isn't dwelling on his relationship status.
"I'm single now, and my schedule is probably going to continue in a busy theme for a while longer," Bolton, 58, told PEOPLE on Tuesday after performing his new song, "I'm Not Ready," with Delta Goodrem on Dancing with the Stars
. "I almost wouldn't wish me upon [a girlfriend] right now. There's just not a lot of time."
Bolton says he doesn't have anything against being committed to someone, but his schedule doesn't make love easy. Aside from putting the final touches on his upcoming album Gems – The Duets Collection
before its June 21 release, he's got his hands full in other ways as well.
"I'm touring the world and going to South America and then Asia," he explains, fresh off the heels of a successful Saturday Night Live
appearance last weekend. "And then I come back and do about six weeks of shows in the states."
But when the career craze takes a break, Bolton might be ready to settle down.
"I'm waiting for the right woman to come along," he says. "I'm open-minded. I'm more than open-minded."