The 31-year-old made the move to West London from Blackpool for a fee of £1.2 million after an impressive season in the Premier League, but he has struggled to make an impact for Rangers.
Former Blackpool boss Ian Holloway is now looking to get back into the Premier League and has targeted the former Birmingham man to help out in attack.
The former non-league player spent some time out on loan with Ipswich in the first half of this season and netted 10 goals in 17 games to help Mick McCarthy's side climb clear of the relegation zone.
Holloway faces competition from Hull City as Steve Bruce is also looking to bolster his front-line after missing out on Frazier Campbell, who agreed a deal with league leaders Cardiff.
R's boss Harry Redknapp is happy for Campbell to get fixed up elsewhere and, even though he gave him a rare Rangers run-out in the FA Cup third round against West Brom, he appears to be surplus to requirements at Loftus Road.