The 27-year-old spent last season on loan at Nottingham Forest, netting 11 times in all competitions before returning to the Saints this summer where he is deemed surplus to requirements.
On Saturday, Sky Sports revealed that a loan switch had been agreed between the two clubs, and Adkins spoke of his admiration for the striker following the 3-1 win at Derby.
"Billy is a player I had at Scunthorpe. He's a player I took to Southampton and we got promoted," he told the Reading Post.
"He hasn't played for a while now but he's a player I've always admired and would always have in my mind-set to bring to any football club.
"I want to score goals this season and it's about having the strength in depth of players to go and do it."