The 2007 National League Cy Young Award winner, who was placed on the disabled list retroactive to May 15, offered a promising outlook following his MRI on Tuesday morning and his baseball play before the Padres' game against the Nationals.
"Everything felt normal, so that was good news," said Peavy. "Obviously, it's gone longer than we thought, but everything went well today, and we'll try again tomorrow and hopefully everything will go well and we can progress towards getting back out there."
Asked when he might return to the mound, Peavy said, "I don't know, maybe sometime this weekend. I hope we can climb up on the mound and have enough arm strength to get through that. And hopefully it won't take too much longer after that to get on the mound for real.
"I didn't miss too much time. [After] a mound session or two, I'd like to be back out there," he added. "But like I've said, that decision isn't mine. It's ultimately the trainers' decision, and you have to do what they say, but hopefully not too much longer."
Asked about the MRI, Peavy said: "The MRI looked good today, with no structural damage. Everything looked intact with tendons and ligaments.
"It just showed some edema around the tendon and ligament, like we had thought. It's caused some discomfort, so hopefully it should give us some peace of mind to know that you may have to be out there with a little pain. But that being said, knowing you are structurally OK, you know you can go out and let it go and know you're not going to hurt yourself long-term."
Peavy was asked when he may come off the DL.
"I really don't know; it's not my call. I would want to come off tomorrow -- if I had it my way -- and throw out of the bullpen," the right-hander said. "But, obviously, that's not going to happen.
"Today is the first day I've done any baseball activity, and it felt good to be out and about. And it felt good that I did it pain free."
Peavy last played catch May 17 in Seattle, and he said it didn't go particularly well.
"I tried a few strength tests and didn't fare well with them," said Peavy. "But today, with all the tests, [it] warranted a chance to go play catch and hit, and everything went well."
Peavy reported no pain swinging the bat.
Padres manager Bud Black was buoyed by Peavy's MRI and seeing his ace back on the field.
"Jake's MRI looked very good," said Black, "and he will resume throwing today. As things get better, he'll increase his intensity and the duration. He'll get to the mound, and all the bridges that need to be crossed will go as he feels."
Sandy Burgin is a contributor to MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.