The wingers original loan deal expired after the 2-2 draw with Wolves on Saturday when he signed off in style with an equalising goal.
After the game Blues boss Steve Bruce spoke of his intention to bring Devlin to St. Andrew's on a permanent basis and this extra month will allow the two club's more time to try and come to an agreement over a permanent transfer.
Bruce told the club's official website: "It's a chance to thrash out a permanent deal over the next three or four weeks.
"I have been delighted with Dev over the last month.
"He scored a cracking goal on Saturday, but that's typical of Dev to wait for the end of his loan spell to score a goal like that."
Devlin's new deal will take him up to, and including, the re-arranged home game with Crewe on April 10th.