The 26-year-old, who joined the club from Toronto in 2008, is expected to be the next high-profile name to leave the Scottish Third Division oufit.
"There has been an offer on the table from Ipswich which, as yet, he hasn't accepted. He trained this morning. I'm just hopeful something can be resolved sooner rather than later," McCoist told the BBC.
Edu has 37 international caps to his name.