Speaking to the official club website, the Canadian international confirmed: "It's a nice Christmas present and I'm obviously very pleased to be given the chance to stay here.
"I've had my ups and down in my time here but Ipswich is a great club and I'm pleased with the way things have gone for me this season in terms of being involved with the first team.
"I think I have progressed as a player this season and I'm enjoying playing under the manager.
"Results have not gone as we would have hoped for but our performances have been good lately and there is a confidence in the squad now that things are turning around.
"If we can keep our run going and win a few more games then we will move up the table quickly and get closer to the Play-Offs. That's the aim."