The Scottish League One club have been keen on the Vancouver Whitecaps striker for some time now but the 33-year old recently signed a new deal keeping him in Canada until next summer.
Despite that, McCoist still holds hopes that he can lure the recently-retired Scotland international back to Ibrox for a third spell.
"Kenny would certainly interest me, I would be lying if I said he didn't interest me quite a lot," he said.
"If there was an opportunity to get Kenny, I wouldn't be doing my job if I didn't explore that. We will have to wait and see.
"I keep in touch with Kenny, but I haven't spoken to him since the day after the England game. In terms of the possibility of him coming here, I haven't spoken to him about that.
"I wouldn't rule it out. I'll certainly be making enquiries in the next wee while. If it's a possibility, it's an avenue we would look to possibly pursue.
"I don't know if Kenny would want to come, if we could afford him. There are millions of questions but I do think we need another forward."