The debate over whether the Light Blues should seek to quit Scotland was reignited by chief executive Charles Green last week as he hit out at league reconstruction plans. Conference chairman Brian Lee has refused to rule out the possibility of Rangers joining his division, with the issue set to be discussed at a meeting of clubs on Monday.
McCoist said: "We will just wait and see what happens. I take a lot of it with a pinch of salt because doors get closed in your face and other ones are half-open and other ones open up. Until there is anything concrete, I wouldn't really comment on it. But it's nice to see that they're not slamming the door in our face."
Rangers revealed on Wednesday they have now sold more than 38,000 season tickets - higher than their last two campaigns as a Clydesdale Bank Premier League side.
And, despite their Irn-Bru Third Division status, they currently have the highest average attendance in Scotland, with Manchester United, Manchester City, Arsenal and Newcastle the only clubs in the UK drawing in bigger crowds.
McCoist can understand why some English clubs would be keen to see Rangers join their ranks.
He added: "We are where we are at the moment but the teams in the SFL would hopefully back us up and say we are still a very big pull and a massive club. It's understandable that perhaps some of the clubs in the Conference would welcome us. I'm sure they would welcome us as much as the teams in SFL3."
As far as Football League chairman Greg Clarke is concerned, there are simply too many obstacles in the way of Rangers playing their football in England.
He told talkSPORT: "If there was a serious move to bring a major Scottish club into English football, that would be under the purview of the Football Association as the national governing body and would require a discussion with UEFA and FIFA.
"So I don't think the Conference would be able to invite them in, and I don't think the Football League would ever invite them in without a major conversation."