The former Coventry star, 27, saw last season decimated by injuries and, despite regaining fitness, has made just one start this season, against Hull.
With James McFadden or Keith Fahey generally preferred for the left-sided role in manager Alex McLeish's favoured 4-5-1 formation, McSheffrey has largely been limited to a subsitute's role.
He impressed in a 3-2 reserve-team defeat to Portsmouth in a bid to stake a claim for a spot in the first XI.
But he told the Birmingham Mail: "You're always hopeful, but it's not looking great because I'm not getting on really when I've felt I could maybe make a difference.
"That's not been the case. I have just got to keep plugging away, keep my chin up and keep working hard."