The Championship club are in the hunt for a new striker and could dip into the loan market when it opens on October 1.
Fletcher, who spent two years with Wolves, started in the Black Cats' first three games of the season, but has not been included in the side for the last two.
"He's not one we've pursued but we'll see," the Shropshire Star quotes Jackett as saying. "We're always looking at players and you never know where you go.
"[Fans] are asking about him but I don't know if he's available. But he's not someone we've considered or we've enquired about."
Wolves are currently third in the league table after eight games.