Donald 'Cowboy' Cerro
But American Cerrone, 36, said he would only "derail" to face Irishman McGregor if he did not get a shot at a title.
Cerrone won a five-round unanimous decision over Iaquinta in Ottawa, Canada, for his 23rd UFC victory.
"Let's dance," Cerrone told TSN when asked about McGregor.
"If he wants to come back in July, we're ready. Fourth of July weekend, I love international fight weekend.
"I think it would make perfect sense to get Conor and me on it."
McGregor revealed in March that he had but in April, in series of now-deleted , he appeared to challenge Khabib Nurmagomedov to another fight.
Nurmagomedov will face Dustin Poirier in the lightweight title unification bout at UFC 242 on 7 September, but Cerrone said it would be "foolish" for organisers not to select him if either dropped out.
"I just think if something happens and they need somebody else for a title shot, it better be me," he told UFC News.
"I've done so much in the sport, they would be foolish not to. I feel entitled."
