The Bohemians defender appeared for Wolverhampton Wanderers' Under-23s last month.
But despite reports on the contrary, Bohemians will be due a fee for Lyons, who according to the Irish Sun recently signed a new deal with the Dublin side.
The 18-year-old has played six times for Bohs to date, and captained their Under-18s in the Uefa Youth League.#
Wolves previously acquired Stephen Ward, the now Burnley left-back, and Matt Doherty, their current right-back, from Bohemians in 2007 and 2010 respectively.
Lyons' teammate, Ali Reghba, is also said to be interesting clubs on the other side of the Irish Sea.
Bohs fans - what can Wolverhampton Wanderers expect from Lyons?