Sounds like he really does want to stay, and the two sides will get a deal done.
"Both Bay and the Sox have made little secret of a mutual interest in finding a deal to keep the power-hitting outfielder in Boston beyond the 2009 season, the last of a four-year, $18.25 million deal that Bay signed with the Pirates."
"Earlier this season, Rob Bradford reported that Bay – who has never before been eligible for free agency – was seeking something in the three- or four-year range for roughly $14 million a year. In the months since then, there have been no other extensions signed that might clarify the direction of the market and offer greater direction to negotiations."
http://www.weei.com/sports/boston/red-sox/alex-speier/2009/07/16/state-bay-outfielder-open-negotiations-red-sox-second-h
If it comes down to it, I'm sure the Sox would be willing to give him the 4 years/56 he wanted earlier in the season.