An update on Machado's condition, including how long he could be sidelined, will be provided on Wednesday.
Executive vice president Dan Duquette said putting Machado on the 15-day disabled list is "under consideration right now."
"We need to get more information on it," Duquette said.
"Manny was feeling good later last night, so we'll see. There will be some work he has to do to come back and play. But we need to get more information and I'm sure Manny will consult with his medical people.
"Let's give it a little time."
X-rays taken on Machado's knee last night were negative, but the Orioles scheduled the MRI as a precaution.
Machado's knee buckled in the third inning as he swung at a pitch from Yankees starter Chris Capuano. He needed assistance leaving the field from head athletic trainer Richie Bancells and manager Buck Showalter, but he was walking without crutches following the game.
Machado underwent surgery on the left knee in October to repair a torn medial patellofemoral ligament, and he missed the first month of the season.
The MRI on shortstop J.J. Hardy's left thumb today confirmed a sprain.
"I understand he's better today," Duquette said. "He's got a sprain but he's feeling better. We'll see if resting it today and tomorrow allows him to play this weekend."
The Orioles are off Thursday, which provides additional time for healing. For now, it appears that Hardy will avoid the disabled list.
"Let's see how he does tomorrow and the next day," Duquette said.
The Orioles are discussing whether to recall an infielder from the minors. They'll need one if Machado and Hardy can't play.
"It's something we're considering," Duquette said.
Steve Lombardozzi, Jimmy Paredes and Ivan DeJesus Jr. are in Norfolk's lineup tonight.
Duquette said he made a couple of donations to ALS after being nominated for the Ice Bucket Challenge by his daughter, Showalter and former Orioles coach Dave Jauss.
"And then I said 'uncle,' " Duquette quipped.
Update: If Machado goes on the DL, the Orioles will purchase the contract of infielder Cord Phelps from Norfolk.
Phelps has left the Tides, who are in Buffalo tonight.
Phelps is batting .256/.358/.380 with 12 doubles, four triples, seven home runs and 49 RBIs in 97 games.