Wolves are reported to have met Reading striker Kevin Doyle's £6.5million release clause.
Newly-promoted Wolves are looking to bolster their squad ahead of their return to the top flight with some proven Premier League quality.
Doyle enjoyed two seasons in the elite division with Reading, bagging 19 goals.
Following their relegation in 2008 he stayed at the Madejski Stadium to help try and fire them back into the top flight at the first attempt.
But the Royals' bid to go straight back up failed after a late-season slump and now Doyle is set to leave the club.
He has a clause in his contract that allows him to talk to any club that bids £6.5million for his services, and reports from Berkshire claim he has already met Wolves boss Mick McCarthy.
News of Wolves' interest is sure to alert rival suitors, including the likes of Everton, who have been strongly linked with Doyle and his Republic of Ireland international team-mate Stephen Hunt.