Phillips has talked of his adoration for the Essex club and would welcome the opportunity to stay, with his current deal set to expire next month.
As yet there has been no firm offer of fresh terms for the 30-year-old defender, but he is more than aware of how long these things take and is expecting to hear from Southend shortly.
"I love the club and I want to stay," he told the Echo. "I've spoken with the manager (Paul Sturrock) and he said he'd like to keep me but these things take time and there's no rush as the season has only just finished.
"There's been no concrete offer from the club at the moment and I would imagine that could take around three weeks. Then the club and my agent would have to meet up, but of course I'd like to still be here next season and help us get promotion."