In an interview with CVG, Fergal Gara said the crossover features and services between the two make a good case for pairing up the duo for a single retail package.
"We'd have nothing against that whatsoever," he said, "And it's not out of the question that we would do that this Christmas if we wanted to.
"We put together packages for retail, and there's no reason why we shouldn't create a 'Vita plus PS3' bundle, which could feature games that use cross-play, as well as include a PlayStation Plus subscription that both devices could use."
Gara acknowledged that such an initiative could further promote the symbiotic relationship between Sony's home console and handheld.
"There is really a story there of the two consoles building a partnership. 'Better together', as I say. If we want to continue to promote the partnership between PS3 and Vita, we have to look at ways in which we can show that.
"Is a dual-console bundle box a perfect solution to that? I'm not sure, but I think there's scope to have deals where people buy both the Vita and PS3, along with cross-play games and get a discount."
In the interview, Gara also touched on the Wii U, saying while he has "no doubt people will be interested" in Nintendo's new console, 'it's hard to judge the potential of the Wii U'.