The Hoops manager is very interested in the Irishman but says that the £7million that the Royals want is far too much.
“Certainly with the figures Reading have been talking about you would say that is that,” Lennon nsaid.
"The figures I have seen quoted in the papers, I don't think we would be in the running for Shane. He is a player I do like. I think he has a lot of qualities and would be beneficial to us.
“But that sort of money is out of our remit. You are talking £7m, I don't think we've got that to pay. Value for money is key.
“We always look for players who might have a resale value in future, but who - at the same time - will be good-quality players. Like we've done with Beram Kayal, Emilio Izaguirre, Gary Hooper and players like that.
"I've said already I don't really want to change the squad too much."