Arsenal have asked Aston Villa to keep them informed of Gareth Barry's status.
Liverpool's attempts to secure the England midfielder appear to have stalled over the asking price.
And Villa manager Martin O'Neill revealed Arsenal might be interested if the move to Anfield breaks down.
'Myself and Steve Walford both know Arsene Wenger's assistant Pat Rice,' O'Neill told the Sun.
'He phoned Steve to ask how the Liverpool thing had gone and said that they might show an interest.
'At the end of the conversation Arsenal said 'that's fine' and that they'll let us know.
'That is exactly what happened.'