Rice has played three friendlies for Ireland, but has not been called up since it emerged that he was considering switching his allegiance to England. According to 'Sky Sports' the player may have already made his mind up.
"That may well be the case, I don't know. I'm in contact with the family and they said they would let us know," O'Neill said.
"There was a story last week and a couple of weeks before that. There was a story broken that was without foundation.
"The player will have the decision. I'm not waiting every single moment. I would hope that he would come and play for us - that would be great, for the next 10 or 12 years, for him.
"But he's got things to consider and whatever decision he comes up with, I will abide with."