Wolves hold a four-point lead in the second tier, which is in stark contrast to last season when Bodvarsson featured in a team which only pulled away from the relegation zone towards the end of the campaign.
Bodvarsson is now at the Madejski Stadium with Reading, but he has suggested that he still takes a look at the progress of Wolves from afar.
The 25-year-old told Get Reading: "I didn't even see [Wolves' success] coming. It's a totally different team from last season to now.
"There have been a lot of changes to the club in general including the coaching staff, the fitness staff and the players so you look at it and you want that success as well.
"Nothing is given, everything is earned. I am just focusing myself on Reading and doing well with them."
During his time at Molineux, the Icelandic international scored three times in 22 starts and 20 substitute appearances in the Championship.