Both players have been told their contracts will not be renewed in the summer and the club won't stand in their way if someone else wants them.
Most Saints fans were surprised when McCay was given a new deal in the summer as he has been fairly poor for some time, aside from a superb goal against Hearts. Molloy has been unlucky with injuries but it's been clear for some time he's been on his way out.
Story source: The Official St. Mirren Website