Hamilton are in talks with "a couple of clubs" over a potential transfer, according to Reid, and he was left out of the weekend win over Stirling Albion as a result.
Wigan remain favourites to sign the 22-year-old, but West Brom, Rangers and Leeds have all been credited with an interest as well.
Reid said: "I am getting a bit fed up being asked what's happening with James McArthur.
"But things might be moving and, if I had played him against Stirling, he might have picked up an injury and I don't want to do something that might hold matters up.
"I know the chairman has been talking to a couple of clubs, but we have been here before and he is still with us."
McArthur, meanwhile, is trying not to think too much about his future.
"It's flattering to be linked with clubs and it gives you a boost," he said in the Daily Record.
"But until anything happens I'll be fully committed to Hamilton and will give my all."