Town boss Joe Royle has revealed that he made an enquiry about the availability of the Goat who joined the Royals for £500,000 just last summer.
It is believed that the Tractor Boys wanted to take the veteran striker to Portman Road on a three-month loan deal.
However, it appears that Steve Coppell is not prepared to let the number nine go as he has found the net twice since returning to the side following a troublesome knee injury.
Royle, who has big ambitions for the Tractor Boys despite the financial problems that they face, admitted he has made a tenuous enquiry as to Goater's availability.
"There has been dialogue between myself and Steve Coppell about Shaun but he is not the only player we have enquired about," he admitted.
Royle is a big admirer of Goater having signed him for Manchester City for £400,000 in 1998. The Bermudan international found the net 103 times in 212 games during his spell at Maine Road to elevate himself to legendary status amongst the City faithful.
But Steve Coppell was remaining tight-lipped on the whole affair telling the Reading Evening Post that: "A private conversation between managers should remain private."
Although Coppell has brought forwards Lloyd Owusu and Dave Kitson to the club since he took charge of the Royals, it seems unlikely that he will be prepared to let Goater leave the club.