Stead, 25 started his career with West Yorkshire outfit Huddersfield Town before making a lucrative move to Blackburn Rovers in February 2004 and signed for Sunderland in July 2005.
The former Terrier signed for the Blades in January 2007 and made his debut in a 1-1 draw to Portsmouth, to date Stead has played 31 (+14) games for United and netted 11 goals, his last goal came in the 3-2 defeat at Southampton in the final game of the 2007-08 season after coming off the substitutes bench.
It is believed that Stead has been at Oakwell for the last few days, whilst its unclear as to the nature of the deal (loan or full transfer), Stead could be moving out of Bramall Lane soon.