The Icelandic international midfielder spent the last few months of the season on loan at Highfield Road and Reid is confident a deal can be done to with his German side, VfL Bochum.
Reid Confident Of Gudjonsson Deal
"We have been in talks with Bjarni and his agent and I'm confident that it will go through," Reid told the clubs official website.
"I've followed his career and he's got tremendous ability and ball control.
"He has the ability to either create a goal or score himself and I'd like to see him as a Coventry player next season."