Newspaper speculation suggests the 2001 and 2009 Lion is a big-name target for new Super 15 franchise the Melbourne Rebels.
The Rebels will become the fifth Australian Super side when the tournament expands in February 2011 and Vickery is thought to be part of their extensive recruitment drive.
The 33-year-old's contract with current side London Wasps runs out at the end of this season and Vickery could be tempted by a change of scenery as he approaches the latter stages of a superb career.
Vickery is currently recovering from neck surgery and is not expected to return to training for at least another seven weeks.
The former England captain will almost certainly miss the entire Six Nations campaign but his international career could have a huge bearing on whether he decides to move to Australia.
Vickery, who was a World Champion in 2003, may wish to press on at Wasps in the hope of earning a place in England's squad for next year's World Cup.
If he is told he is surplus to requirements by England team manager and Lions legend Martin Johnson, however, the move to Melbourne could be the perfect option for the likeable Cornishman.