The Icelandic striker was one of the first players signed by new Wolves manager Stale Solbakken as he looks to rebuild the relegated club.
Sigurdsson has said that he is relishing the challenge presented by contributing to Wolves' promotion push this season.
He told the club's official website: "I want to really enjoy the experience as well. I feel I have settled in really well so far, I think it's going to be so much fun.
"I've had some great support so far and so many tweets coming through, it's been great. All of the players are ready for the season now and over the next couple of weeks I've just got to work hard and be prepared for the Aldershot and Leeds games."
Wolves begin the 2012-13 season with a Capital One Cup tie at home to Aldershot Town on Saturday, August 11.