"I'm really pleased to be able to bring a goalkeeper of David's quality in," said Tranmere's caretaker manager Les Parry.
"He's very highly rated and was one of the best goalkeepers in League One last season. He played a lot of games for Leicester City, keeping clean sheets in almost half of them.
"Saturday's game is very important for us and with Luke Daniels being suspended we needed an experienced goalkeeper. David will give us that experience and much more as well.
"I'd like to thank Rafa Benitez and John McMahon for allowing him to come to us for a month."