Iredale has been involved in all five games since the start of the new campaign, having missed the second half of last season with a knee injury.
The versatile defender has been used in the wide centre-back role in recent weeks while George Johnston is out of action but can also play as a wing-back.
Australia assistant coach Rene Meulensteen has watched Iredale in action and first team coach Graham Arnold is due to be in attendance for the Derby County fixture next month.
The 27-year-old also qualifies to play for New Zealand and the All Whites have reportedly taken an interest in him.
Iredale has already spoken about his ambition to one day play for the Australian national team, having previously featured at youth levels.
After joining Wanderers from Cambridge last summer, he told The Bolton News: “I would love to play for Australia.
“I played for Australia at youth team levels but I haven’t been involved in any camps or anything like that at senior level.
“Playing for Australia is definitely right up there at the top of the personal goals that I’ve set myself. I think that a move to Bolton is only going to be able to help me do that and playing as well.”
The defender made the move to Bolton on a free transfer after impressing at Cambridge during the 2021/22 campaign, making 44 appearances in all competitions at the Abbey Stadium.
He also had stints at Greenock Morton and Carlisle earlier in his career, playing alongside Bolton team-mate Gethin Jones at Brunton Park.
Iredale was a regular starter for the Whites during the first half of last season prior to his injury, which he initially sustained during the goalless draw against Derby before limping off in the 3-0 win at Barnsley a few days later.
The 27-year-old had hoped to be back in time for the play-off semi-final ties against the Tykes but wasn’t quite ready to feature in either of the legs.
Australia have several fixtures coming up over the next few months, including a friendly against England on Friday, October 13 and a clash with New Zealand four days later.
The Socceroos reached Round of 16 at last year’s World Cup in Qatar before suffering a narrow 2-1 defeat against eventual winners Argentina after goals from Lionel Messi and Julian Alvarez. Former Bolton youngster Aaron Mooy started in midfield that day.
Australia manager Graham Arnold, who returned for a second spell in charge in 2018, is aiming to lead the side to the World Cup finals once again after agreeing a new deal earlier this year which runs until the summer of 2026.
The next instalment of the historic competition is set to take place across the United States, Mexico and Canada and will be the first to include 48 teams.