Per ESPN's Len Pasquarelli.

When the trade is completed, Atlanta and Houston will flip-flop first-round picks in April's draft, and Atlanta will receive Houston's second-round picks in 2007 and 2008. The deal likely will be completed later Wednesday afternoon. Houston has the No. 8 pick in the first round of the draft, while Atlanta is slotted 10th.

Sources told ESPN.com that the trade is contingent upon the Texans reaching agreement with Schaub on a contract, and negotiations have already begun.

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One of the strong candidates to replace Schaub as the backup to Vick, ESPN.com has learned, is Anthony Wright, who played with the Cincinnati Bengals in 2006.