Go ahead, say it.
It's happening! (Reportedly.)
Sources: #Cubs in agreement on two-year deal with free-agent outfielder Scott Hairston, pending physical.— Ken Rosenthal (@Ken_Rosenthal) January 24, 2013
Two years seems like overkill to me; Hairston did hit with considerable power in 2012 (20 home runs, .504 slugging percentage in 398 at-bats), but he has little patience (19 walks and a .299 on-base percentage). He does play a capable outfield and can cover all three outfield positions. He won't likely be expected to play against righthanded pitching, as the Cubs have two outfielders (David DeJesus, Nate Schierholtz) as platoon partners.
Depending on the dollar amount of this deal, it could be a decent signing. That now makes two players (Carlos Villanueva the other) that the Cubs need to make 40-man roster space for, as the 40-man is currently full.
Thus, don't expect any official announcement on this until there's a DFA, waiver move or release. They'd better do it soon, as pitchers and catchers are scheduled to report to Mesa in just 18 days.