Smith, who has only recently returned from a very serious injury, is likely to be shipped out on loan to gain some valuable first-team football in order to get back to full fitness.
The former Leeds United striker can operate as an out-and-out striker or alternatively as a midfielder.
One thing that will appeal to the 26-year-old is the fact that his former team-mate, Roy Keane, is now in charge of the Black Cats.
Other clubs reportedly in the running for Smith are: Middlesbrough; Newcastle; Everton; Cardiff; Leeds; Ipswich and Birmingham.