Much travelled former Bayern Munich striker looked odds on to join the Potters this summer, only to suffer a change of heart.
The Croatian has spoken in public on his future plans on regular occasions over the last few months, saying as recently as last month that Stoke was his first choice ahead of the end of the season.
"There are many rumours about my future. The press are talking about me moving to United States, to Qatar, but Stoke City remains my first choice," Sky Sports report his as telling Jutarnji List.
But any likelihood of a deal has been rendered dead in the water with the news that the forward, who has netted 14 goals in 33 games this season, has extended his deal with Wolfsburg, with the German side going great guns just one point off the final Champions League spot.
Mark Hughes had confirmed this month that Stoke were indeed looking at the 34-year-old Wolfsburg striker as a possible summer signing, telling the media: "Ivica Olic is a player that we like and one that we are pursuing"
"He is a quality player and somebody I have met on a few occasions, and I really like him. He has played at the top level for the duration of his career, he possesses incredible pace and he is technically very, very good.
"We have to give the guy time to make the decision that he feels is right."
It seems like the right decision for Olic was to stay in Germany, a country where he has netted 96 goals in 257 games. It was a sentiment echoed by his manager Dieter Hecking, who declared him: "Hugely important for our young team."