Derry has spent the last month with Steve Lomas' Lions having dropped down the midfield pecking order at Loftus Road.
Derry's current stint ends after Saturday's trip to Brighton but he has indicated he would like to stay on and Redknapp says he would be happy to allow the 35-year-old to remain in south London.
"It wouldn't be a problem," he said.
"If Steve wants to keep him there then he's a good pro and he'll do a good job for them I'm sure."
- Steve Lomas