Bell is close to a comeback after a second ankle operation whilst McPake has nearly recovered from the collarbone injury he received during City's 1-0 pre-season defeat to Dunfermline.
"Belly is coming along well," said Coleman to the CT. "It has been hard for him since he arrived.
"It has been stop-start like James and when you sign new players you add them to the squad for obvious reasons to better your team and the players you have got, and unfortunately we have not had both players.
"We saw last year with Belly that when he came into the side and was fit after Christmas, opposite Jordan Henderson, we had a lovely balance to the team and a real fruitful time. 
"Then we lost both players after the quarter final of the cup and lost our shape again.
"So I am itching to get him fit and on the pitch again.
"It has been difficult for him but he has had the operation he needs and, fingers crossed, once we get him back that will be the end of it."
He added: "They are going to need games, a good few 90 minutes in the reserves and we may even get them a few games in the division below.
"I spoke to the chairman about it a few days ago and it is something I am definitely in favour of, to go out for a month and get three or four games of 90 minutes - perfect!
"Both players have missed a lot of football in the last 12 months and it is important that when we get them back that they are not in games where they are struggling for fitness.
James McPake
"But if they have already had three or four games in the league below, or even two leagues below, it will be great for them."