The Daily Mail says Federici, who went to the World Cup last summer with Australia as back-up to Mark Schwarzer, has been linked with Arsenal, Fulham, Tottenham and Liverpool thanks to his eye-catching displays for the Berkshire club.
"I'm not going to hide my ambition," he said. "I've come a long way to play in this country and I want to be at the highest level.
"We've a realistic chance of getting promoted this season and if I can do it with Reading that's fantastic.
"Everyone wants to play Premier League football. It's the biggest league in the world and the most watched. I've had my little taste of it and it's fantastic to be involved in it."