The newspaper said Izzo flew to Cleveland in the private jet of franchise owner Dan Gilbert.
There was no indication, however, whether Izzo had agreed to be lured away from Michigan State, where he has been the coach for 15 years. He has led the Spartans to the Final Four six times.
Cleveland dismissed Coach Mike Brown after the Cavaliers fell to Boston in the Eastern Conference semifinals. The Cavaliers had put together the best regular-season record in the NBA.
The Cavaliers are hoping to sign a coach who will be attractive to superstar LeBron James, who is currently free to sign with any team he chooses for the 2010-11 season.