The pair hit the headlines after their sexist off-air comments about female assistant referee Sian Massey were leaked to the press. Gray was sacked, while Keys resigned.
According to The Mirror, Keys is today scheduled to fly out to Qatar to begin talks over a potential move to the Arabic TV station, which is keen to expand its sports coverage.
Keys is expected to be joined on the channel by his longtime friend Gray if negotiations are successful. The possible deal would see the duo divide up their time between Qatar and London.
Al Jazeera, which recently won the rights to show the next three World Cups across the Middle East and Africa, is already hosted by a number of UK-based sports presenters, including Gary Lineker.
> Andy Gray 'will sue Sky Sports for £3m'