Peszko is on a season-long loan at Molineux after being signed from Cologne by former boss Stale Solbakken.
And the 27-year-old admits it is Wolves' decision whether or not he extends his stay in Wolverhampton.
"It's up to Wolves to get me," Peszko told Przeglad Sportowy.
"They have time till the end of May to decide. If they say yes then they have to pay £500,000 to Cologne."
Peszko made an impressive impact in the early stages of the season but was injured in October, since when Wolves' fortunes have faded fast with Solbakken being replaced by Dean Saunders.
"Something is wrong," he added. "I have left the team at third spot. Now we are 18th.
"I haven't had the chance to repay Solbakken's faith in me. But Dean Saunders let me know straight away that he counts on me.
"Our future will be decided in the next few games. Saunders keeps saying we can get into the playoffs.
"I want to play in the top division, not the level below. I don't know in which country though. My contract with Cologne runs out in June 2014 but I won't be playing for them."