Reid, 25, is a former Tottenham Hotspur player, but is now captain of Championship side Charlton following a £3 million move in August 2006. He has bagged 7 goals from midfield this season and Roy Keane sees him as an ideal candidate to help keep The Black Cats out of the bottom three.
Reid has struggled with injuries in the past - part of the reason why he didn't make it at Tottenham - but if the deal goes ahead, the club could come under scrutiny from certain sections of the Sunderland crowd for purchasing a player from the Championship, yet again.