How might I persuade my ex-wife to give our love another chance?

I was married for 7 years. My wife found our marriage boring and divorced me 8 years ago. We have a 14 year old daughter. I am still very much in love with my ex-wife (who has since remarried, divorced for a 2nd time, and is now romantically involved with someone else). My ex-wife lives closeby and I see her quite often. We seem to have a very good friendship, but I want more. There is no other woman that I want to be with. Am I being foolish in placing my life on hold awaiting her improbable return?