Scholes has had a fantastic season with Manchester United.
The midfielders are:
Gareth Barry, Michael Carrick, Joe Cole, Steven Gerrard, Tom Huddlestone, Adam Johnson, Frank Lampard, Aaron Lennon, James Milner, Scott Parker, Theo Walcott, Shaun Wright-Phillips.
Gareth Barry is injured - I did read that a likely replacement is Owen Hargreaves, who has played about two minutes of competitive football. Personally, I wouldn't pick Hargreaves for a pub team. Tom Huddlestone and Adam Johnson are regular under-21 internationals but untried in the senior team. Cole, Lennon, Milner, Walcott and Wright-Phillips are fighting for the wide berths - although I could see Milner replacing Barry, if he doesn't make it.
I don't see anything wrong with Capello sounding out Paul Scholes. He could be the missing piece in midfield but I can't see Scholes changing his mind.