The 27-year-old ended a largely unproductive three-year spell at Aston Villa in September when he agreed a loan move to Stoke and linked up with Hughes, his former manager at Manchester City.
After impressing under Alex McLeish in the 2011-12 season, Ireland fell out of favour under current Villa boss Paul Lambert and was rarely included in matchday squads.
"I would have done anything to get the chance to come here," he said. "I'm really grateful that I have. I'm 27 and there's so much more I want to do in football.
"I'm still exactly the same player. I've always had a lot to offer, I've always been enthusiastic and hungry.
"My time at Villa wasn't very nice, you're going to lose a bit of passion when you train on your own for six months.
"When you're on your own with a football for that amount of time, you wonder what direction you're going to go in.
"I just thank Stoke for bringing me in and taking care of me. I want to repay them with my performances."
"Yes, we're in talks," he added. "They've been going on for a while but there's no pressure from the club at the moment.
"There's no major rush right now. I think something will be done pretty soon."
