The 27-year-old has just one year left on his Blues deal, although there is a two-year option to extend his stay.
McFadden has already expressed his desire to remain at St Andrew's and now wants to put pen to paper.
The Scotland international is slightly frustrated at the lack of talks, but insists he is not worried about his future.
"I'd like to get it sorted, but I am in no rush," explained McFadden in the Daily Record.
"There is not a lot of progress but I am not worried.
"I'll wait and see what happens."