Pellegrini lost his first fixture as City manager today as his side opened their pre-season calendar with a 2-0 defeat to South African team Supersport United.
City have already signed Jesus Navas and Fernandinho this summer, but Pellegrini admits that he has targeted at least two more additions before the transfer window closes.
The Chilean told The Mirror: "We are aware that we need two or three more players. It's important to have a very good squad.
"I said before we came to South Africa that we need two players for each position and that's what we are looking for and I'm sure we will get them.
"It's difficult to say exactly which day but before the end of the month we will have a new attacker."