After being sidelined for all of last season with a persistent knee problem, King is now recovering from a hamstring injury as he tries to make a comeback.
What the Saints are missing with King sidelined was emphasised last week when they could only manage 0.5 to halftime against Hawthorn.
Lyon said before Friday training that King returned to running this week and again pleaded for patience from Saints fans.
"He's right in and it's just a matter of time," Lyon said.
"That's what we envisage for Max, that's what Max envisages. But in the now, it's a tough time for him and it's a tough time for us.
"We just think he's untapped potential on our list. He'll see me out - he'll be kicking 60, 80, whatever it is, in '29, '30, whatever it is."
The Saints have had a glimpse of King's potential when he played 22 games in 2022 and kicked 52 goals.
He has managed just 23 AFL games since.
"It's been a difficult period, but there's nothing sinister there. That's what I'd say if I'm talking to Saints fans," Lyon said.
"There's nothing chronic ... it's just a product, because we were conservative (last year) with the repair, that ultimately failed.
"When you do the (knee) repair, it's four months off, then you come back and then that repair tears. It just makes him vulnerable in a conditioning aspect to soft tissue and that's what we've seen."
Meanwhile, St Kilda's misfiring attack will be strengthened by the returns of Mitch Owens and Liam Ryan, plus Nasiah Wanganen-Milera in the midfield, for Sunday's tough away clash against Sydney.
"Paper teams always look good, (but) they'll all play, pending training," Lyon said.
"We're always pleased to have them back, but we showed in the second half (against Hawthorn) that if you play positive football and you compete well, you can score."
The Saints also confirmed on Friday that last month's mid-season draft recruit, Campbell Lake, would make his AFL debut
Jack Silvagni kicked three goals when moved forward against the Hawks, but Lyon said it was not down to one player.
"Imagine the rhetoric today if Tony Lockett left St Kilda and went to the Swans," he said.
"The club played in a grand final (three) years later (1997) ... without him.
"So I don't think it's about one person, it's about a body of really competitive AFL footballers and that's what we're trying to build."
Lyon could not resist another crack at the concessions provided to the northern AFL teams when discussing Swans star Isaac Heeney.
"He's flying, isn't he - a superstar of the competition, Isaac, a great academy product, that's good," the coach said.
"We'll have our hands full."
Highly rated Saints assistant Corey Enright is being touted as a potential senior coach, with Carlton and Essendon in the market.
"I would drive him to any interview, to create an opportunity. They're like hen's teeth, pretty hard to get," Lyon said.
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