"We've got him until the end of January, start of February and we'll have a look at that before the transfer deadline," McCarthy told The Express & Star.
"It's governed by Shane really - he's 31 and he wants to play regularly. I'd like to take him for the rest of the season but that will be determined by Shane.
"If someone comes in for him and wants him to play, I'm not going to stand in his way and if we took him on loan then it wouldn't happen now in the window.
"Near the end of the window, if he's not going anywhere to play then we'll keep him."