The former West Ham man has been out since January with a crucial knee ligament injury.
He had got back to training but suffered a a small tear to his meniscus in the knee and has had to have more surgery.
As part of Cole's rehabilitation, Chelsea are looking at loaning him out for a month in December and the Sky Blues, who already have Patrick van Aanholt and Jack Cork on loan until December 31st thanks to Chairman Ray Ranson's links, are seen as one possible club who could take him.