The 27-year old left Ibrox for the Riverside in July but has struggled to bring his prolific scoring ability to England, sparking rumours of a departure in January.
But McCoist said that the Scotland international will not be returning to 'Gers because they don't have the money to buy him, or anyone else.
"I don't really have any thoughts on that because my reading of the situation is that it's not going to happen because we don't have any money to get anybody, whether it be Kris Boyd or anybody else," he said.
"We don't have any money, it is simple as that, so we can dream but at this moment in time, nothing is going to happen.
"We can't sit there and say 'someone is going to come in and buy the club and give us x amounts of pounds'. That's not the way you do things.
"We look at the long-term approach and we effectively know what cards we have been dealt and we have to play them."