Livermore has been a pivotal figure in midfield since arriving from White Hart Lane on a season-long loan in August, starting 13 of the last 14 league games.
"I'd love to do a deal for Jake if it was possible but then again he's Tottenham's player," he said.
"I'll have a conversation with them but the key is Spurs.
"Jake has now played 14 Premier League games and done very well for us. The ball is in their court ultimately because he's their player. Whether or not they're willing to sell is the big question."
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