The Hammers have been one of the most active clubs in the transfer market since securing promotion back to the Premier League via the play-offs.
The likes of
West Ham has yet to agree a fee for the England international, with reports suggesting the asking price is £10 million ($14.98 million).
"It is stuck - that's the answer," Allardyce said, speaking ahead of the season opener against Aston Villa.
"I don't know how that will pan out now. I think that we'll just have to wait and see.
"For me, it is on the backburner because Saturday is the most important thing for me and then if it is to be done after Saturday we'll see where we are.
"We have got to try to agree something with Wolverhampton Wanderers.
"That is the issue we have at the moment, before we get into what the player wants or doesn't want."
While Allardyce hopes to push through a deal for Jarvis, it appears a move for Liverpool's
West Ham made an audacious bid to prise the striker from Anfield but was thwarted.
"We never agreed with Liverpool any deal to be able to speak to
"Whatever deal we put forward to Liverpool was not agreed to by Liverpool.
"He would have been a massive signing for us and, like everything else, when you see an opportunity you try to go for it.
"Then you get onto negotiations and once that is exhausted you move on, which was a lot sooner than people actually talked about in the media.
"The negotiations were over in a couple of weeks or so regarding whether Andy was or wasn't going to come to West Ham."
Allardyce has made no secret of his desire to add more faces this month, but for now he is only interested in getting a good result against Villa.
"I think there is a lot of excitement around the place, obviously because we're getting closer and closer to kick-off," he said.
"I think we have prepared pretty well, I think the only slow process, as always, is (bringing) players in. That has been the only slow process.
"We have been working extremely hard at it, but to be able to complete the signings has been very difficult indeed.
"We are pleased with the players we have brought in, but we're still waiting to bring a few more in before the end of the window."
One of the additions,
However, Collins' fellow Wales international
"It is his knee - the one he had operated on two or three years ago.
"We probably played him too much towards to the end of the season and he gave that little more effort and it aggravated the injury.
"It has been a great shame for him that he has not been able to come in with the rest of the squad and feel the excitement we are feeling towards the start of the new season."
English Premier League
If you are going to achieve something as mad as spending nearly 27 years in the biggest job in football, you might as well bow out in equally ridiculous fashion.