The midfielder has been heavily linked with a move to the Santiago Bernabeu but a deal still seems to be far away at this point according to club president Jokin Aperribay
The Santiago Bernabeu side are keen to lure the 23-year-old away from his current club, but Real have no intention of letting the midfielder go for anything less than his €30 million (£25.9m) buy-out clause.
"As of today, Illarramendi continues to be a Real Sociedad player. We are counting on him for this season," Aperribay told reporters.
"If Madrid meet his buy-out clause then it's up to them and the player to agree terms.
"I must say that Real Madrid have been behaving very well during negotiations so far."
Illarramendi, who has a contract with Real Sociedad until June 2018, was part of the Spain Under-21 squad that was crowned European champions in Israel this summer.
The midfielder has made 54 appearances for the Basque outfit since being promoted to the senior team in 2010.