The central defender, son of current Wigan manager Steve Bruce, was offered a new deal earlier in the season by previous boss Jim Magilton as his current contract expires at the end of June, but turned down the offer stating that it was not what he was looking for.
Speaking to the Official Club Website of his hopes of an improved offer, Bruce said: "I have enjoyed my three years here but it's disappointing that we have not made it to the Premier League in that time.
"I came here to play regular first team football and I've achieved that but I also wanted to help the Club win promotion so that's been frustrating.
"I've been lucky enough to have enjoyed a good relationship with the supporters and if I have played my last game, I want to say thanks to them.
"Hopefully though something can be sorted out because I want to stay at Ipswich. It's out of my hands though.
"I felt that the offer that was made in January wasn't what I was looking for but I have a meeting with the manager later this week and we will see if anything develops from there."
Bruce is one of 13 players out of contract at the end of the season, the others are Billy Clarke, Chris Casement, Dan Harding, Dean Bowditch, Ed Upson, Ivan Campo, Jai Reason, Kurt Robinson, Liam Trotter, Matt Richards, Shane Supple and Tommy Miller.
Click here for a profile of Alex Bruce or Click here for a game by game rundown of his 2008/9 Championship season.