The 29-year-old has moved to Hillsborough until the end of the season, having made just one appearance in all competitions for Everton this term.
And while he has already equalled the number of appearances he made for the Toffees this season during his first week with the Owls, having featured in the 1-1 draw with Burnley on Tuesday, he suggested that he plans to take some time before rushing into any decision regarding his future.
"I will see how I do over the next four to five months and we will see what happens after that," he told the Star.
Having struggled to make an impact for Roberto Martinez's side this season, it is perhaps understandable that McGeady wants to evaluate his options before making another move.
Although the former Celtic man has plenty of experience of playing at the highest level, he may well be concerned over whether he can hold down a place in Carlos Carvalhal's side as Ross Wallace and Barry Bannan have been performing well on the wings. He may also be unsure about dropping out of the top flight on a permanent basis.
However, if that mentality manages to motivate the Republic of Ireland international, then it may well benefit Wednesday's promotion hopes as he seeks to prove a point by continually putting in strong performances that will force Carvalhal to keep him in the side.
And if he manages to keep hold of a place in the side, and his form manages to send the Owls to the Premier League, then he will surely have little doubt that staying at Hillsborough is the right decision for him.