The Lions are understood to be keen on signing the 35-year-old from their Championship rivals before the summer transfer window shuts next month.
"There's a link there," Derry told Sky Sports News. "I'm 35 now and a guy who doesn't like to sit on the bench. If there was an opportunity for me to play elsewhere then that's something I'll have to look at."
Derry, who has one year left on his current contract at Loftus Road, joined QPR from Crystal Palace in 2010.