I'd scribe a line and file up to it, but maybe you are set on using a power tool.
One option, if you have an old enough router, is to use an equally old drill stand. Drills used to have a standard 38mm diameter round nose which fitted standardised accessories. Some routers, such as the old Bosch PAF models, have the same diameter end where the body fits into the base, so you can fit a router body into a drill stand and lock it in place. Robert Wearing used this setup and described it in one of his books.
As you can use an ordinary wood router on ali, this might work for you.