It has been suggested that an announcement could be made as soon as the Scousers return from Turkey after their Champions League clash with Galatasary this week.
Houllier has been away from football since October 11th, when he was rushed to hospital at half-time during the Reds draw with Leeds United.
A eleventh hour heart bypass operation saved the managers life, and means he should be more determined than ever to get a result when the Magpie's face the tough trip to Merseyside next month.