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 | Ipswich TownIpswich | 43 | 26 | 11 | 6 | 85 | 53 | 32 | 89 |
| 2 | Leicester CityLeicester | 42 | 28 | 4 | 10 | 79 | 38 | 41 | 88 |
| 3 | Leeds UnitedLeeds | 43 | 26 | 9 | 8 | 76 | 34 | 42 | 87 |
| 4 | Southampton | 42 | 25 | 9 | 8 | 84 | 54 | 30 | 84 |
| 5 | West Bromwich AlbionWest Brom | 43 | 20 | 12 | 11 | 66 | 42 | 24 | 72 |
| 6 | Norwich CityNorwich | 43 | 21 | 8 | 14 | 76 | 60 | 16 | 71 |
| 7 | Hull City | 42 | 18 | 11 | 13 | 62 | 54 | 8 | 65 |
| 8 | Coventry CityCoventry | 42 | 17 | 12 | 13 | 66 | 52 | 14 | 63 |
| 9 | Middlesbrough | 43 | 18 | 9 | 16 | 61 | 56 | 5 | 63 |
| 10 | Preston North EndPreston | 43 | 18 | 9 | 16 | 56 | 60 | -4 | 63 |
| 11 | Cardiff CityCardiff | 43 | 18 | 5 | 20 | 48 | 60 | -12 | 59 |
| 12 | Bristol City | 43 | 16 | 10 | 17 | 50 | 46 | 4 | 58 |
| 13 | Sunderland | 43 | 16 | 8 | 19 | 52 | 50 | 2 | 56 |
| 14 | Swansea CitySwansea | 43 | 14 | 11 | 18 | 53 | 62 | -9 | 53 |
| 15 | Watford | 43 | 12 | 16 | 15 | 59 | 58 | 1 | 52 |
| 16 | Millwall | 43 | 13 | 11 | 19 | 42 | 55 | -13 | 50 |
| 17 | Blackburn RoversBlackburn | 43 | 13 | 10 | 20 | 57 | 71 | -14 | 49 |
| 18 | Plymouth ArgylePlymouth | 43 | 12 | 12 | 19 | 58 | 66 | -8 | 48 |
| 19 | Queens Park RangersQPR | 43 | 12 | 11 | 20 | 40 | 57 | -17 | 47 |
| 20 | Stoke CityStoke | 43 | 12 | 11 | 20 | 41 | 60 | -19 | 47 |
| 21 | Birmingham CityBirmingham | 43 | 12 | 9 | 22 | 48 | 64 | -16 | 45 |
| 22 | Huddersfield TownHuddersfield | 43 | 9 | 17 | 17 | 47 | 70 | -23 | 44 |
| 23 | Sheffield WednesdaySheff Weds | 43 | 12 | 8 | 23 | 36 | 67 | -31 | 44 |
| R | Rotherham UnitedRotherham | 43 | 4 | 11 | 28 | 32 | 85 | -53 | 23 |
| > Championship Full Table | |||||||||
