The 64-year-old actor, who appeared in the original 1984 film and 1989 sequel, backed the move during an appearance on the Late Show with David Letterman, reported Independent online.
"I think it would be swell. I would go watch that one in a second," he said.
Murray then went on to suggest actresses that he thought would be perfect for the movie.
He cited former co-star Melissa McCarthy, Emma Stone and Linda Cardellini, before asking the audience for further recommendations.
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"The studio's always wanted to make another one, because they can't come up with any other ideas," he joked.
Paul Feig is to direct the reboot and will also co-write the script with Katie Dippold.
Filming is scheduled to begin in 2015.