Lampard called time on his illustrious Chelsea career to join MLS expansion franchise New York City on a two-year deal ahead of their inaugural season in 2015.
Gerrard, who retired from England duty at the end of the World Cup, has been at Liverpool since emerging from the youth team in 1998 - amassing 475 Premier League appearances and 111 goals.
The 34-year-old midfielder - in the United States for Liverpool's pre-season tour - has a year to run on his contract and admitted playing in a league such as the MLS could be on the cards.
"One day that might happen to me, I don't know," Gerrard told reporters.
"I've never really discussed it with anyone or thought about it. Maybe one day I would like the chance to go away from Liverpool for a short time and try something different.
"I think Frank has made a great decision. At his age, 36, he's had a wonderful career and I don't think he has anything to prove in England in any more.
"He's broken records with Chelsea and won everything with them. I think it's a perfect move for him. But I haven't given it much thought. That carrot hasn't been dangled yet."
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.