The 30 year old, who came through City's youth team and reserves but was released before he made an impact on the first team in 1999, has not played for Barnsley since their opening game of the season.
Devaney, who has made 153 appearances for Barnsley has joined Walsall on a month's loan and Barnsley Boss Mark Robins told the Sheffield Star: "Martin needs to play some games. "We'll get him watched and monitor his progress and see how the move goes."