The Republic of Ireland international has been out of action since suffering the injury in a 1-1 draw at Walsall on December and it was feared he may miss the rest of the season.
However, Gary McAllister said: "Jonathon is progressing really well. The physios are now pushing his training along a bit quicker than they were anticipating.
"Like any long term injury, the last bit is very important and that you do not put too much pressure on the lad to get back. We have to be careful but if he does get back (before the end of the season), it would be a big bonus.
"Andrew Hughes is another who could surprise us. He is a fit guy and will be back quicker than we anticipated."