The 25-year-old forward has been heavily linked with a move to the Premier League throughout the ongoing summer transfer window.
He has a year left on his contract and has been keen to move on from the German club over the last few months.
Stuttgart are also resigned to losing him and it seems the forward could be on his way to England.
It has been claimed that Wolves are in advanced negotiations with Stuttgart for the signature of the Austrian forward.
Kalajdzic is keen on the move to Molineux and has already agreed on personal terms with the Midlands club.
Wolves are now looking to negotiate an agreement with Stuttgart, who want €25m from the forward’s departure.
Bruno Lage has been keen to sign a striker this summer especially due to the suspect fitness of Raul Jimenez.
And it seems Kalajdzic could be on his way to the club to add to their attacking options this season.