The 25-year-old, who produced 28 goal involvements in 37 appearances from attacking midfield last term, has already agreed personal terms with the Bundesliga giants.
According to Sky reporter Florian Plettenberg, the Moroccan international will sign a contract at the Allianz Arena that expires in 2031; however, the outcome of the deal is still "open".
Bayern held "new" talks with PSV over Saibari on Wednesday, and it is now ultimately a matter of agreeing on a price before sealing the transfer.
Dutch publication Eindhovens Dagblad claim that they are set to bid €48 million, including bonuses, but PSV want closer to €60m for their prized asset as the two clubs prepare to meet in the middle.
Vincent Kompany wants to get a deal for Saibari over the line before the World Cup starts next week, when Morocco take on Brazil, Scotland and Haiti in Group C.