Best advice I can give you is go for it. You don't know how he is going to react and what is going to happen after but you do know what will happen if you do nothing. To often we sit around and wish we had done things when we had the chance. Fortune favors the bold and if he won't be your friend because you took a chance that didn't hurt either of you then he wasn't that good of a friend to begin with.

One thing is just make sure to be ready for either way the reaction goes.