"Ipswich have accepted on offer from Sunderland for me and negotiations are ongoing at the moment." the former Wimbledon Glovesman explained.
"It's moving forward but these things take time and I've certainly never said anything about not wanting to move to the north east, which has been mentioned in some areas.
"Things are looking positive and we're waiting for Sunderland to come back to us but like I say, it's ongoing negotiations."
Davis has also admitted in a perfect world, he would be staying at Portman Road: "In an ideal world, I would like to have been playing Premiership football for Ipswich Town but unfortunately it's not worked out like that.
"I've had a great two years here and have always played with a smile on my face and if I move on, I will always have fond memories of my time at Ipswich."
Davis feels that if and when he does leave the club, they should not look to bring in a more experienced keeper to take over the number one shirt, and should give the duty to Wales Under 21 international Lewis Price.
"Lewis proved against Leeds, in what was a high pressure game, that he could handle Championship football," added Davis.
"With us going for promotion and in the circumstances he took over, it was a big game for him and he coped with it well, just as he did earlier in the season.
"I'm not sure what the gaffer will do if I leave but if he gives the shirt to Lewis, I'm sure he won't let anyone down. He has shown he can handle Championship football."