During his first 10-day stretch with the Pacers, McGuire started one game but played just 12 minutes in two appearances grabbing two rebounds with one assist and no points. According to Larry Coon's NBA Salary Cap FAQ, this is the last 10-day deal McGuire can sign with the Pacers.
A team may sign a single player to two 10-day contracts in one season (they may or may not be consecutive). After the second 10-day contract, the team can only retain the player by signing him for the remainder of the season. A team can't have more 10-day contracts than they have players on their Inactive List.
The Pacers released Sam Young after an ankle injury knocked him out of action, but Frank Vogel indicated last week that he would not be surprised if the Pacers re-signed Young again later in the season when he is healthy. If the Pacers want to keep the Young option open then it seems unlikely that the Pacers would sign McGuire for the rest of the season after his current 10-day deal is up.