The 34-year-old, who scored nine goals in 39 starts for the club last season, is highly regarded by Blues boss Lee Clark.
According to the Birmingham Mail, the final details between the two parties are being ironed out, with an announcement expected in the next week or two.
Elliot has been widely linked with a number of Football League clubs this summer.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Wycombe WanderersWycombe | 16 | 12 | 2 | 2 | 36 | 18 | 18 | 38 |
| 2 | Wrexham | 17 | 10 | 4 | 3 | 26 | 11 | 15 | 34 |
| 3 | Birmingham CityBirmingham | 15 | 10 | 3 | 2 | 28 | 15 | 13 | 33 |
| 4 | Stockport CountyStockport | 17 | 8 | 6 | 3 | 29 | 17 | 12 | 30 |
| 5 | Huddersfield TownHuddersfield | 16 | 9 | 2 | 5 | 25 | 15 | 10 | 29 |
| 6 | Barnsley | 17 | 7 | 6 | 4 | 26 | 22 | 4 | 27 |
| 7 | Reading | 16 | 8 | 3 | 5 | 26 | 24 | 2 | 27 |
| 8 | Bolton WanderersBolton | 16 | 8 | 3 | 5 | 25 | 26 | -1 | 27 |
| 9 | Lincoln CityLincoln | 17 | 7 | 5 | 5 | 23 | 21 | 2 | 26 |
| 10 | Mansfield TownMansfield | 15 | 7 | 3 | 5 | 20 | 17 | 3 | 24 |
| 11 | Exeter CityExeter | 16 | 7 | 2 | 7 | 14 | 15 | -1 | 23 |
| 12 | Charlton AthleticCharlton | 16 | 6 | 4 | 6 | 17 | 17 | 0 | 22 |
| 13 | Peterborough UnitedPeterborough | 16 | 6 | 3 | 7 | 32 | 29 | 3 | 21 |
| 14 | Bristol Rovers | 17 | 6 | 3 | 8 | 17 | 23 | -6 | 21 |
| 15 | Wigan AthleticWigan | 16 | 5 | 5 | 6 | 15 | 13 | 2 | 20 |
| 16 | Blackpool | 17 | 5 | 5 | 7 | 24 | 30 | -6 | 20 |
| 17 | Stevenage | 16 | 5 | 4 | 7 | 11 | 16 | -5 | 19 |
| 18 | Northampton TownNorthampton | 17 | 4 | 6 | 7 | 19 | 23 | -4 | 18 |
| 19 | Rotherham UnitedRotherham | 16 | 4 | 5 | 7 | 14 | 19 | -5 | 17 |
| 20 | Crawley TownCrawley | 17 | 4 | 4 | 9 | 15 | 27 | -12 | 16 |
| 21 | Leyton Orient | 16 | 4 | 3 | 9 | 14 | 20 | -6 | 15 |
| 22 | Cambridge UnitedCambridge | 16 | 3 | 4 | 9 | 14 | 25 | -11 | 13 |
| 23 | Shrewsbury TownShrewsbury | 16 | 3 | 2 | 11 | 16 | 29 | -13 | 11 |
| 24 | Burton Albion | 16 | 1 | 5 | 10 | 15 | 29 | -14 | 8 |
| > League One Full Table | |||||||||
