Boss Paul Tisdale moved to sign the Reading goalkeeper on a three-month loan deal this week and then revealed Jones has expressed a desire to leave the Devon club.
"Paul Jones is out of contract and has made it clear the time is right for him to move on," Tisdale told the Express and Echo. "No one has any bad thoughts about that - everyone is entitled to sign a contract and leave at the end of it."
The 25-year-old has made more than 200 appearances for the club, helping them win back-to-back promotions from the Blue Square Bet Premier to League One.
"Out of respect to Jonesy, rather than sit there on the bench for the rest of the season, we have given him the go-ahead to look for a transfer in the window while there is still an opportunity. But I couldn't do that without bringing someone in on loan," Tisdale continued.
"He has made his position clear that he wants to take a new step in his career and, after six years of being here, I don't blame him."