The Slovenia international is generating plenty of transfer gossip during the winter window, with the likes of Liverpool and Tottenham Hotspur said to be keen.
Milan giants AC and Inter are also reported to have expressed an interest in a player who has shone during his two-and-a-half years in Italy.
Ilicic is, however, in no hurry to seal a switch elsewhere and his representative says there is little chance of a deal being struck in January.
"I have said it many times and I say it again: 'Ilicic will not leave Palermo'," Amir Ruznic told TMW.
"Maurizio Zamparini will not sell him at any price. He is too important.
"In the summer we will sit down and look at the offers.
"Ilicic wants to stay in Italy. Serie A is his first choice."