The move, reported first by Fox Sport’s Jay Glazer, comes on the heels of Seattle releasing recently signed quarterback Mike Reilly of Central Washington.
The Seahawks have not yet confirmed the signing, though that is expected to occur Wednesday.
John Clayton of ESPN.com is reporting that Losman agreed to a one-year deal for $630,000.
Losman, 29, is an upgrade over Reilly in terms of experience, having started 33 games for the Bills between 2004-2008. He since has played for the Los Vegas Locomotives of the United Football League and then was with the Oakland Raiders last season, getting on the field for just one play.
He was currently an unsigned free agent.
Losman threw for 33 touchdowns and 34 interceptions during his time with the Bills, compiling a QB rating of 75.6 after being drafted in the first round out of Tulane.
Losman’s addition would give the Seahawks two veteran quarterbacks in addition to starter Matt Hasselbeck, with Charlie Whitehurst and Losman presumably working as the No. 2 and 3 QBs.
The signing sends a pretty clear message that Mike Teel — a seventh-round draft pick last year — is not a sure thing as the No. 3 quarterback.
Losman, 6-3, 212 pounds, is definitely a more mobile quarterback than Teel, which is something the Seahawks are leaning toward in new coordinator Jeremy Bates’ system. Losman has rushed for 489 yards and three touchdowns with a 4.7 yard average in his career.
However, he’s also struggled with turnovers. In his one season as a full 16-game starter with the Bills in 2006, he fumbled 13 times — losing seven — and also threw 14 interceptions for a team that finished 7-9.
NFL clubs almost always go into camp with four quarterbacks, so Teel and Losman likely will both remain on the 80-man roster and the coaches will see how things play out in preseason.