Manager Mick McCarthy sees the 19-year-old as one for the future and is keen for the forward to develop by securing some regular football elsewhere.
Vokes has struggled to find regular football at Molineux during his year with the club, featuring largely as a substitute in Wolves promotion campaign last year.
The teenager will find his minutes on the pitch limited even further this season after McCarthy completed the signing of towering striker Stefan Maierhofer in a £2million deal from Rapid Vienna on transfer deadline-day.
"We'll see what happens when everyone gets back from the international duty," McCarthy told the club's official website.
"Sam really needs to play some football.There was half a chance he could have gone out last week.
"For him to develop and for us to benefit he has to play regularly.
"Sam has had a meteoric rise from Bournemouth and for him to improve he's got to play some football so there's a chance he can go out."
Vokes made his professional debut aged 16 for Bournemouth and went on to make over 50 appearences for the Cherries before sealing a switch to Wolves last summer.
The forward nearly made a deadline-day loan move to Derby but this was cancelled after striker Rob Hulse's move to Middlesbrough collapsed.
Although the Rams still maintain an interest, McCarthy now feels Vokes would benefit from more football with either Chris Coleman's Sky Blues or a spell with the Swans.
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