According to Wojnarowski, the Lakers and Suns have been trying to include a third team that would acquire Kentavious Caldwell-Pope as part of a potentially larger deal.
Phoenix is reportedly asking for a guard and a draft pick in exchange for the 33-year-old Ariza, who was crucial to the Houston Rockets' success in recent years.
Ariza is now signed to a one-year, $15 million contract with Phoenix, but the team's slow start and interest in pairing franchise shooting guard Devin Booker with another guard could force a trade.
As a result, he can not be traded until December 15, the first day offseason signees are eligible to be traded. Adding Ariza, specifically, would make even more sense for the Lakers, as his contract would expire in the offseason, thus not eating into their cap space.
Caldwell-Pope has veto power on a trade, but the Lakers have shown an ability to work with his agent, Rich Paul, if there's a deal that might increase his role and possibly get him signed to a deal this summer with a new team, league sources said.
The first is that Ariza remains a pretty solid player at age 33, now averaging 9.7 points, 5.5 rebounds and 3.3 assists per game. With their recent win over the Memphis Grizzlies, the Lakers now have sole possession of the fifth spot in an extremely competitive Western Conference.
The Suns bought out center Tyson Chandler earlier this season.
If Ariza, who has already played for the Lakers in his career, is dealt to Los Angeles, he won't be the first Suns player to move west this season.