The 28-year old midfielder is currently on trial with the Seasiders and was a spectator in the crowd during their 2-1 defeat to Sheffield Wednesday on Tuesday night, this giving an indication that the former Everton and Ireland star's long search for a new club could be over having previously seen a trial with Millwall come to nothing.
Blackpool manager Hendry is more than aware of Farrelly's abilitys having played alongside him during Bolton's successful promotion campaign of 2001 and could be set to offer the player a contract if he impresses.
Hendry has also taken a look at the former Huddersfield Town and Barnsley midfielder Dean Gorre as he looks to add reinforcements to the team following defeat in the opening two matches of the league campaign.