There was talk of a Wilburys tour at one point but as Tom Petty said when asked about the subject: I think it would ruin it in a way. Then you're obligated to be responsible and it's not in the character of that group. It would make it very formal and that would be the wrong spirit.

I find myself forced to agree with him on that. A big part of what made them so special was their ephemeral nature. Like the whistle of a lonely freight train sounding across the prairie at night their music carried the spirit to far away places and evoked a common memory of things that may or may not have ever actually happened.

Here's another great track from Traveling Wilburys Vol 1. It's a Dirty World baby.