The Republic of Ireland international has held talks with Town boss Paul Jewell and has also agreed personal terms at Portman Road.
However, Jewell has revealed that Ipswich are just one of a number of options available to the 27-year-old.
"Everything's agreed between the two clubs and with the player's personal terms," said Jewell.
"I spoke to him on Monday. He has got a few options. Hopefully he will choose us. But we're waiting on an answer."
Ipswich have conceded the 47 goals this season, making them the leakiest defence in the Championship.