Invertible Bloom Filter (IBF) is a data structure, which employs a small set of hash functions. An IBF allows for an efficient insertion and, with high probability, for an efficient extraction of the data. However, the success probability of the extraction depends on the storage overhead of an IBF and the amount of the data stored. In an application, such as set reconciliation, where there is a need to extract data stored in the IBF, the extraction might succeed only partially, by recovering only part of the stored data. In this work, the probability of success for a partial extraction of data from an IBF is analyzed. It is shown that partial extraction could be useful in applications, such as set reconciliation. In particular, it allows for set reconciliation by using the IBF, where the storage overhead is too small to allow full extraction. An upper bound on the number of rounds in an iterative set reconciliation protocol is presented. The numerical results are derived analytically, and confirmed by the computer simulations.