Alan Irvine tried to sign the defensive midfielder on loan last season but was twarted by then manager Jim Magilton as they were also pushing for a play off place on would not release him.
Shumi joined Ipswich from Turkish side Bursaspor in January 2008 for a fee of £600,000 and had made 42 league appearances for the club. His only league goal came last season in a 2-1 victory over Blackpool.
Shumi who is also known as the 'Balkan Gerrard' has made 53 International apperances for Macedonia.
His previous clubs include Zenit St.Petersburg, FC Slovacko and NK Publikum.
Subject to a work permit Shumi will be available for Saturday before joining his Macedonian team mates for a match against European Champions Spain.
Shumi will wear the number eight shirt for PNE which was vacated yesterday by Karl Hawley's departure to Notts County.