And with James set to seal a loan switch to Stoke City they will be left short of options between the posts.
While Asmir Begovic has deputised well in place of James, Fratton Park boss Avram Grant is understood to be keen to have more competition.
It is understood that Al Habsi is very high on Pompey's list of targets and they will look to make a move if and when their embargo is lifted.
Highly-rated Al Habsi has been with Bolton since 2006, but he has been limited to just 10 appearances due to Wanderers' outstanding No.1 Jussi Jaaskelainen.
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