The Icelander has been looking for a contract extension but with City's financial position changing since April, nothing has happened.
"We've been talking about a new contract but nothing's been done yet and I'm just waiting," said Gunnarsson to the CT. "But I'm still a Cov player and I'm not going anywhere. 
"I like it here and I'm concentrating on playing football because that's the thing I want to do. I'm not thinking about new contract here or going into the Premier League - I'm only 20 years old and I've got plenty of time.
"If I went into the Premier League with a club who were buying me as one for the future I wouldn't be playing for them so I wouldn't play for Iceland. I want to develop as a player with Coventry, play regular football and hopefully stay in the national team."