Bailey damaged ankle ligaments during Saturday's 2-1 win at Sheffield United and will sit out the trip to Portman Road.
Barry Robson is likely to miss out once again with a hamstring injury but Matthew Bates suffered no ill effects from his return to action at Bramall Lane after a hamstring tear.
Kevin Thomson, who is back in training after a hairline leg fracture, could be included in the squad but the game may come too soon for Willo Flood, who is close to making a senior comeback after recovering from a dislocated kneecap.
However, Jonathan Franks and Luke Williams (both ankle), Leroy Lita and Justin Hoyte (both hamstring) and Jason Steele (torn side muscle) remain on the sidelines.
Source: PA
Source: PA