The Iceland international has been with the Royals since 2005, making almost 150 appearances for the club.
He has, however, fallen down the pecking order and has found first-team opportunities limited this term.
The 35-year-old is keen to find regular football before his contract expires in the summer and hopes a loan switch will allow him to showcase his talents.
A vastly-experienced performer, the former Stoke and Nottingham Forest man is able to operate in a number of positions.
Gunnarsson has already spoken with Reading boss Brian McDermott about his situation and has been informed that the door is open should a suitable offer arise.
His representative Olafur Gardarsson told skysports.com: "He has spoken with the manager and has been given permission to go out on loan. His contract will expire in June.
"He is mainly a holding midfielder but can also play at centre-back. Yesterday [in Reading's 1-0 FA Cup victory at Goodison Park] he played as a right-back against Everton."
He has, however, fallen down the pecking order and has found first-team opportunities limited this term.
The 35-year-old is keen to find regular football before his contract expires in the summer and hopes a loan switch will allow him to showcase his talents.
A vastly-experienced performer, the former Stoke and Nottingham Forest man is able to operate in a number of positions.
Gunnarsson has already spoken with Reading boss Brian McDermott about his situation and has been informed that the door is open should a suitable offer arise.
His representative Olafur Gardarsson told skysports.com: "He has spoken with the manager and has been given permission to go out on loan. His contract will expire in June.
"He is mainly a holding midfielder but can also play at centre-back. Yesterday [in Reading's 1-0 FA Cup victory at Goodison Park] he played as a right-back against Everton."
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