The Spain international's future has been the subject of debate for several months and it is understood his representatives have been in dialogue with Barcelona.
Although there has yet to be any contact made between the two clubs, Liverpool have identified a number of options should the Catalans make a move for Reina, who would find it difficult to turn down a return to his former club.
However, despite reports in Bosnia claiming a deal has already been agreed for Begovic to move to Anfield should Reina leave, Press Association Sport understands that is not the case.
Liverpool are considering the 25-year-old - who would command a significant fee from the Potters - as a viable option but he is not top of manager Brendan Rodgers' shortlist of candidates.
Any sale of Reina would generate upwards of £10million and would get a significant earner off the wage bill, but the club are in no rush to do a deal.
The goalkeeper himself insists he is happy at Anfield despite continued speculation about his likely departure this summer.
"I have three more years with Liverpool. I'm satisfied, comfortable and my family are very happy," said the 30-year-old, who progressed through the youth ranks at Barcelona - for whom his father Miguel also played - before moving to Villarreal prior to joining Liverpool.
"Rumours are difficult to control but it's flattering when a club like Barca are interested in you. I don't know if there has been contact between the clubs or with my agent. At the moment I don't think there's anything serious."