It is unclear what the 32-year-old is planning for the end of the season, with it possible that he will hang up his boots.
Reid will trigger a 12-month extension clause in his contract when he makes a certain number of appearances, and that agreement would take him through to 2014.
Keen, though, concedes that the Republic of Ireland international may decide to take his career down a different path, with a man who has struggled with injury over recent years having already obtained his UEFA B licence and expanded his media portfolio.
He told the Birmingham Mail: "In my opinion, the next month is not going to make or break whether Steven stays at the club next season.
"He's a fantastic senior professional. He's appeared in quite a few games for us this season - and in quite a few winning teams.
"So, I don't think whether or not he's fit for the next two or three weeks will have a massive effect on any decision that's being made.
"The supporters and press, to a certain extent, see his contribution over 90 minutes on a Saturday, but as a coaching staff and Steve (Clarke) as head coach, I think you'd say his contribution around the club is much more than that.
"He's got great experience, he's very vocal and has a lot of common sense when it comes to talking about football.
"We'll see what Steve, Richard (Garlick) and the chairman decide to do. But he is a fantastic person to have around the place."