The old gold are in Group H alongside the Royals, Cardiff City and Sunderland, and will play each team twice, with the top two progressing through to the knockout stages.
The tie comes just four days after Monday’s defeat at West Ham United in PL2, giving Ian Sharps’ side a quick turnaround and opportunity to get back on the winning trail.
Despite that loss at the Hammers, the 21s have enjoyed some positive results in recent weeks, with victories against Tottenham Hotspur and Leicester City in the league.
Meanwhile, Reading are flying high in their professional development league and currently sit fourth after their opening 13 fixtures.
The Royals have won seven and drawn once, meaning that only Bristol City, Millwall and Swansea City are placed above them in the table as they compete for a play-off spot.
Reading are managed by former player Noel Hunt whose brother Stephen appeared in old gold between 2010-2013.
The game kickstarts a run of cup fixtures for Wolves, who are set to complete all their PL Cup group games before Christmas, as well as host Porto, Valencia and Wolfsburg in the International Cup.
WHEN
Friday, 2pm
WHERE
Aggborough Stadium, Kidderminster
TICKETS
Tickets can be purchased in advance by clicking here and supporters are encouraged to do so, but entrance will be permitted on the day. Wolves season ticket holders are also entitled to free entry with their card on the turnstiles.
STREAM
Supporters can watch all the action from Kidderminster live this afternoon, as the match is streamed online via wolves.co.uk, the Wolves App and the Wolves YouTube channel.
The live Wolves TV match stream, beginning at 1.55pm, can be found here, or click here to watch on YouTube, while supporters can also catch download the Wolves App now on iOS here and on Android here.
NEXT THREE
Wolves
- vs Sunderland (H) 14th November (PLC)
- vs Porto (H) 19th November (PLIC)
- vs Sunderland (A) 28th November (PLC)
Reading
- vs Cardiff City (A) 25th November (PLC)
- vs Sunderland (H) 12th December (PLC)
- vs Wolves (H) 19th December (PLC)