The 'Daily Mail' claim that the 'Hornets' are interested in the former England U-21 international is the subject of the bid, which could be accepted by Mark Hughes.
The midfielder has come up with through the ranks at the 'Saints' and has made over 200 appearances for the club in the last 7 seasons, and is still only 23 years old.
Southampton are thought to be interested in raising funds as they want to make further signings this transfer window, and might be able to get more than the £10 million offered by Watford.
However, with just a day left in the market it seems unlikley that they would be able to replace him.