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Don't laugh. Think about it from the few facts we have.
In "STAR WARS: Episode I - The Phantom Menace", during the scenes of the Galactic Senate, we can see a species that looks very similar, if not identical to what E.T. was. Assuming that they are the same species, we know then that "his" species resides in the STAR WARS galaxy, where beings are aware of the Force and other Jedi also reside. [CONFIRMED - see update from 2002.06.25 below.]
Secondly, if we "read into" E.T.'s expressions and body languages, "he" seems to recognize the species that Elliott shows "him" (the STAR WARS action figures in Elliott's bedroom). This is strictly for argumentive discussion as there is no way to back it up. However, when E.T. is taken out of the house (dressed as a ghost) the night of Halloween "Trick or Treat"'ing, it is very clear that E.T. recognizes the Yoda costume. Why does E.T. try to go up to "Yoda" so eagerly? Is it because "he" is homesick and and is happy to see a friendly face?
Thirdly, as viewed in "E.T. the Extra-Terrestrial", we see E.T. demonstrate Force-like powers. Telekinesis power is displayed during several scenes in the movie (ie. in Elliott's room, while riding on the bicycle, etc.). Also, "he" demostrates the ability to heal others (ie. Elliott's cut finger), and heal himself after a period of deep meditation and hibernation ("his" body is slowed down so much, that it is near the point of death, at which point the medical equipment is unable to detect any sign of life and therefore falsely indicate a lifeless body).
Just a thought.
I recently discovered some new information regarding the alien species on the official STAR WARS website. In the "Behind the Scenes" section of the Galactic Senate, it says the following:
Last Updated: 2002.06.25