"We’re calling on any Australians who are in Iraq to leave the country immediately because the airport in Baghdad is still open, commercial flights are still operating out of Baghdad," Ms Bishop said on Network Ten.
"...Given the circumstances, our embassy in Baghdad will be very constrained in the kind of consular support that we can provide. So that’s the focus that we have at present."
Speaking to reporters in the Houston on Saturday, Mr Abbott said he would wait to see how the US responds to the situation in Iraq before developing an Australian response.
"The important thing at the moment is to let the Americans work their way forward," he said.
US President Barack Obama has said Washington was considering options over Iraq but would not be sending troops.
Ms Bishop, who described events in Iraq as "deeply disturbing", said the US would take the lead when it came to any military action.
"I didn't envisage a circumstance where we would be sending in troops," she told the Ten Network.
"But we certainly stand ready to support the humanitarian crisis should a request be made."
Greens leader Christine Milne said following the US into Iraq "is not going to fix it".
"We do not want to follow the United States blindly as John Howard did (in 2003," Senator Milne told ABC Television.
"Clearly it didn't work last time in Iraq and it won't work this time," Senator Milne told ABC Television.
