The impressive defender missed out on a place in the Premier League after The Royals suffered play-off heartbreak when they lost to Swansea.
Now Mills looks set to get the chance to move to the Premier League with Wolves leading the chase for his signature.
Stoke, Bolton, Blackburn, Newcastle, QPR, Norwich and West Brom have also been linked in the past, but Mick MCarthy is now looking to seal a deal.
It is understood Wolves have made an approach, but they will need to meet Reading's valuation - which is thought to be in excess of ?3million.
Reading are already looking at potential replacements and they are ready to join Ipswich and Charlton in the battle for Colchester's Magnus Okuonghae .
Source: Team Talk
Source: Team Talk