Neither Wales or the Republic have any chance of making the finals in Austria and Switzerland.
But manager John Toshack will hope to use the next two games to improve their Fifa ranking, ahead of the World Cup qualifying draw on 23 November.
West Ham striker Bellamy has not played since aggravating an old groin injury that he had thought to have cured.
Bellamy had surgery in Germany last month and made an amazing recovery to play against Cyprus and San Marino.
He played one game for his club against Sunderland scoring in their 3-1 victory. But he left the field during half-time in the match against Portsmouth and has not played since.
Toshack has named Wigan's David Cotterill in his squad for the first time this season after questioning his attitude and consigning him to a spell with the Under-21s.
Nottingham Forest's Arron Davies, Luton's David Edwards and Swansea midfielder Owain Tudur-Jones are all youngsters who have been called into the squad.
Brian Flynn's Under-21s to play Bosnia and France on November 17 and 20 include West Ham reserve captain Jack Collison for the first time, the midfielder qualifying through his grandfather, born in Bedwellty.
Bristol City's Christian Ribeiro, 17, has also been called up for the first time.
Wales squad for the Euro 2008 qualifiers against the Republic of Ireland in Cardiff on November 17 and Germany in Frankfurt on November 21: Hennessey (Wolves), Price (Derby), J.Collins (West Ham), Eardley (Oldham), Evans (Wrexham), Gabbidon (West Ham), Gunter (Cardiff), Morgan (Peterborough), Nyatanga (Barnsley), Ricketts (Hull), Crofts (Gillingham), A.Davies (Nottm For), S Davies (Fulham), Edwards (Luton), Fletcher (Crystal Palace), Tudur-Jones (Swansea), Koumas (Wigan), Ledley (Cardiff), Robinson (Toronto), Cotterill (Wigan), Earnshaw (Derby), Easter (Plymouth), Eastwood (Wolves).
Wales under-21 squad for the games against Bosnia and France on November 17 and 20: Rhys Taylor (Chelsea), Owain Fôn Williams (Crewe), Darcy Blake (Cardiff City), Jack Collison (West Ham United), Neil Taylor (Wrexham), Joe Jacobson (Bristol Rovers), Christian Ribeiro (Bristol City) Mike Williams (Wrexham), Rhys Williams (Middlesbrough), Andy King (Leicester City), Aaron Ramsey (Cardiff City), Joe Allen (Swansea City), Shaun McDonald (Swansea City),Lloyd James (Southampton), Mark Bradley (Walsall), Ched Evans (Manchester City) Sam Vokes ( Bournemouth), Simon Church (Reading).
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