City have been looking at the possibility of moving away from their current home for several years and remain in talks about potential projects with Birmingham City council.
But vice-chairman Peter Pannu admitted rebuilding the Garrison Lane stand to significantly bolster the capacity from the current 30,000 was also an option, telling the Birmingham Mail:
"The capacity of St. Andrew's is 30,000 and we are considering pulling down our old (Garrison Lane) stand as another option."
He added: "For us to build this extended capacity, the indication from our experts is that it would be a size increase to 45,000, 46,000.
"Things are in the pipe-line. We are talking with the city council and doing project reports.
"Once they are available, I'll study them and discuss with (club owner) Carson Yeung and our consultants on this issue."
Pannu admits the Blues fans will have to embrace the proposed schemes to make them viable.
He said: "If we go up to 46,000, with our current average home gates of 25-26,000, then we would be 20,000 short of filling a redeveloped ground.
"That's why I call upon our fans to actively participate in making this dream a reality. There's no point in having a 46,000 stadium if we are not going to fill it."