The Bolton boss has confirmed he plans to rest the players who have played in both league matches, with captain Kevin Davies set to miss the tie against his former club.
Taylor has been linked with a move away from the Reebok following the arrival of Martin Petrov but the midfielder is expected to start tonight and Coyle has revealed the former Portsmouth star still has a big part to play at Bolton.
Blake impressed in pre-season following his move from Burnley and is expected to start against Saints.
Coyle confirmed he will make a number of changes to his Bolton side, with goalkeeper Adam Bogdan and midfield playmaker Mark Davies also in line to start at St Mary's.
"There will be a lot of changes," Coyle told the Bolton News. "We've got some very good players that have been sitting on the bench and one or two who haven't made the bench. They'll certainly be in my thoughts.
"The players who have taken part in both Premier League games have worked their socks off and it's important they stay fresh.
"A number of my players need to play and that will be the case."
The likes of Ivan Klasnic, Andy O'Brien, Sam Ricketts, Marcos Alonso, Ricardo Gardner, Tamir Cohen, Sean Davis, Jlloyd Samuel and Joey O'Brien could all play some part.