Bullard, who has impressed in the Premier League this season, has 18 months left on his current deal.
“I hope Jimmy can sort it out because we know what his qualities are and know he’s a great asset on the pitch,” Murphy said.
“In negotiations you have to find a balance to what he wants and his security, but his performances are tremendous.
“He makes things happen and he’s infectious. He has a good effect on the players around him.
“I think the squad is looking so much stronger that it has in the past and he’s an integral part of that.”
