IBM

(IBM) - Get Report

is reportedly on the verge of a deal to sell a majority interest in its PC business to Lenovo Group, China's top PC company.

Lenovo is expected to pay about $2 billion, according to a Tuesday report in

The Wall Street Journal.

A deal could be announced as soon as Tuesday.

The possibility of a deal was first reported last Friday by

The New York Times

.

For some time now, IBM has been focusing on computer services and the business end of the market and is a distant No. 3 to PC industry leader

Dell

(DELL) - Get Report

.

Hewlett-Packard

(HPQ) - Get Report

is the other remaining major player.

IBM shares rose $1.94, or 2%, to $97.70 in premarket trading.