St. Petersburg, FL (Sports Network) - The New York Yankees are reportedly set to acquire Lance Berkman from the Houston Astros.

A story from MLB.com cites a source in reporting the impending deal, adding that Berkman gave general manager Ed Wade his approval to be traded to the Yankees, among four teams. Berkman has the right to veto any trade as a 10- and-5 player, meaning that he has been in the league for 10 years, spending the last five with one team.

The New York Post reports that the deal is done, but can't be announced until Saturday because of a rule that states trades involving 10-and-5 players can't be announced until 24 hours after the player gives his approval.

Berkman was not in the starting lineup for the Astros on Friday.

For the last several seasons, Berkman has played first base for Houston, but with Mark Teixeira at the position for the Yankees, Berkman could fill the designated hitter role.

Berkman is in the final year of a six-year contract and has a salary of $14.5 million this season. His contract has a $15 million club option for 2011 with a buyout of $2 million.

The 34-year-old has spent his entire career with the Astros, and the apparent deal comes on the heels of Thursday's trade, in which Houston dealt ace Roy Oswalt to the Phillies.

Berkman is hitting .245 with a .372 on-base percentage, 13 homers and 49 RBI in 85 games this season.

Over 12 major league seasons, the five-time All-Star is a .296 hitter with a .410 OBP, 326 homers and 1,090 RBI.

07/30 19:13:16 ET