The midfielder has lost nearly two seasons because of knee and back problems.
But Reid is close to another comeback and Allardyce is impressed with his dedication.
He said: "Steven is a super dedicated, model professional in terms of the times you see him with his gloves on, sweating away in the gym on the way to his reconditioning work.
"He doesn't just rehab his injured knee, he keeps the whole of his body in immaculate condition.
"He reminds me of Gary Speed. He does absolutely everything that is needed to get himself in tip-top condition."