Paul Lambert is looking to add depth to his squad during the January transfer window, and plugging holes at the back is a priority.
Cavanda is considered to be a potential target, with the Belgium U21 international having impressed in Serie A.
He is still only 21 years of age, but Villa are planning for the future and have pieced together a youthful squad brimming with potential.
They would face competition for Cavanda's signature were Lazio to agree to a sale, with a number of other sides having also expressed an interest in a player who is under contract until 2014.
Cavanda's representative Ulisse Savini said: "I'll meet Lazio to talk about Cavanda next week. We want to plan his future.
"There are no official offers for him right now, but it is pleasing to know that he is liked.
"There are a lot of clubs who have put the spotlight on him. Aston Villa, for example, are following him with interest."