Reed has been training with the squad but after Wales suffered further injuries against New Zealand last week, the Cardiff Blue is in contention for a place in the match day squad which will take on the Wallabies.
Injuries to Alun Wyn Jones and Bradley Davies have seen Wales’ short of locks with the likes of Aaron Shingler and Ryan Jones filling in as lineout jumpers.
And Reed says he would welcome any chance to be involved on Saturday.
“I’d be delighted to be involved. I didn’t think it would come this quick but obviously injuries and other circumstances have called me in so I’m happy to take the responsibility if it comes,” he said.
“Australia are the second best team in the world and the boys are under no illusions as to what is coming.
“The talk this week is to start the game as we finished the New Zealand game so hopefully we can take that on to the pitch.
“I’ve trained with the squad on numerous occasions over the past couple of years. I’m up to speed on the calls and if selected, I’ll be ready.”
Australia come to the Millennium Stadium on Saturday on the back of narrow wins over Italy and England in the last two weeks. And although Wales have suffered three defeats in a row and went down 3-0 in Australia over the summer, Reed insists the mood in the Wales camp is good.
“It’s the same as any other camp I’ve been involved in,” he added.
“Obviously I came in off the back of a Grand Slam before but the preparations for every campaign are the same.
“If I’m named in the team I’ll do everything I can to win the game and spoil their party.
“They’re on the back of a big season and the icing on the cake would be to take away our victory so we’ve got to do everything we can to come away with the victory.
“Morale is good, I’ve never been in a Welsh camp where it’s low.
“Everybody’s getting on with their jobs and doing everything they can to go into the game on a positive note on Saturday.”