"Wolves have asked about Marlon on loan and they are one of a number of teams," O'Neill has said.
"I have spoken to Marlon about it and it is a possibility.
"We now just have the league to worry about and I can recall him after 28 days. I think it might be beneficial for the likes of Marlon to go out on loan.
"I hope the international break coming up doesn't afford a load of injuries but, in the long term, if Marlon goes and plays four or five matches and is then recalled here, he will be in good physical condition.
"I think the benefits outweigh the possible downside of it.
"He came and asked me about it.
"Mick McCarthy phoned me about it and Marlon had the choice and we will see.
"It hasn't gone through yet and I am waiting until after Sunday's game. He will be travelling with us to Liverpool."