Jul 31, 2010 9:43 AM EST

The Yankees remain on the verge of acquiring Lance Berkman from the Astros as the slugger has waived his no-trade clause to allow a move, according to sources.

The trade will likely be completed before Saturday's trade deadline.

Houston will pick up $4 million of the $7 million owed to Berkman this year and in his 2011 option, sources said.

New York will send two prospects to the Astros: reliever Mark Melancon and infielder Jimmy Paredes.

Berkman vetoed a trade to the White Sox earlier Friday, USA Today reported.

Via Buster Olney/ESPN