The Northern Ireland international keeper has been on loan at St. Andrews since the start of the season and it was thought that an agreement for Taylor to make the switch to Blues a permanent one was close to conclusion.
Fulham have, however, denied that personal terms have been agreed and that other clubs besides Blues have shown an interest in the 32-year-old keeper.
Part of a statement on the official Fulham website, www.fulhamfc.com, reads: "Contrary to recent press speculation regarding Maik Taylor and a reported permanent move to Birmingham City, the Club can confirm that no such agreement has yet been reached.
"Fulham F.C can also confirm that, as one of the Premiership's most in-form goalkeepers, Maik has attracted significant interest from a number of other clubs."
It would come as a major disappointment to Blues fans should the popular keeper not turn the loan move into a permanent one. Taylor has kept fourteen clean sheets for Blues so far this season and his performances since joining last summer are one of the main reasons that they currently sit in fifth place in the Premiership.