It is thought that the Royals want to add a bit more flair to a squad that is yet to muster an English Premier League victory this season.
Arshavin is believed to still be valued at around £15 million, despite his poor form over the last year or so for the Gunners and they are willing to listen to offers for the Russian to give Arsene Wenger money to spend in the New Year.
Reading of course have a Russian owner, Anton Zingarevich, and he has said: “Arshavin is interesting for Reading but he is only one of 10 players we are looking at.”
The winger was of course involved in the dramatic 7-5 victory for Arsenal between these two sides last week in the Capital One Cup and he may have caught the eye on manager Brian McDermott.
Much is sure to depend on the form of McDermott’s men between now and January and they may need to tighten up at the back instead of adding attacking players.
It is certainly a story to keep an eye on and Arshavin could link-up with his Russia team-mate Pavel Pogrebnyak at the Madjeski Stadium.