ESPN's Peter Gammons are reporting the White Sox are close to a deal that will net the NL ace. There's no word yet what the Sox are going to give up on the deal and of course Peavy could always veto the deal with his no-trade clause.
If Peavy was smart I think he would do what he could to stay in the NL. I envision that first Josh Beckett like year of adjustment for him. It could be messy until he figures out AL lineups.