Pendlebury cracked his right tibia against Gold Coast in round 10 at the MCG and has missed the past two games.
Magpies coach Nathan Buckley said it was just a matter of his vice-captain healing further before he was cleared to return.
"The circumstances are that we'd love 'Pendles' to be playing but he's not right to go, he's too much of a risk and he won't take to the field until we believe that it's time for him and time for us," Buckley said.
Veteran defender Chris Tarrant, who was a late withdrawal from Saturday's win over West Coast because of soreness, is a chance to line up against his old side.
He will need to prove his fitness at training later in the week.
Forward Alan Didak has made a quicker than expected recovery from an adductor tear in round 11 and could also return.
"'Dids' has progressed very well, probably a little bit better than expectation at this stage," Buckley said.
"I think he's pretty keen to get up this week but it will depend on how he moves around tomorrow."
