Alex will offer Phillips a permanent deal at the end of his loan spell.
Phillips has made nine appearances for Dario Gradi's side, most notably saving two penalties in a 3-2 win at Chesterfield at the start of December.
The latest gossip and rumours from the newspapers and online:The Sun says Chelsea striker DIEGO COSTA will call a truce
Pep Guardiola conceded Manchester City's Premier League title bid could be over after the heaviest domestic league defeat of his
It feels right again said Gary Neville, after United secured a 2-1 victory over Middlesbrough with an 86th minute winner
Wayne Rooney has the chance to officially break Sir Bobby Charlton's Manchester United all-time scoring record on Sunday - but
Manchester United host arch-rivals Liverpool at Old Trafford on Sunday.
It may only be a couple of weeks old but 2017 hasnt been a good year so far for Liverpool.