Semedo and Ronaldo know each other having played at Sporting Lisbon together earlier in their careers, and they remain great friends now.
With both Wednesday and Real Madrid's respective seasons over, they have now used the chance to catch-up, with the duo pictured relaxing together on holiday.
Semedo may have been looking to use the time to convince Ronaldo that he should follow through with his promise to visit Hillsborough.
Wednesday are expected to be among the promotion favourites for the 2015/16 campaign, and they will be intending to play an attractive brand of football.
Whether Semedo will be part of that still remains in doubt, though. The combative midfielder's contract expires this summer, but he has hinted that he will sign a new deal in the near future.