The Latvia international has joined the Championship strugglers on a three-month deal with a view to a permanent transfer, and becomes new boss Dean Saunders' first signing
He becomes Dean Saunders' first signing for the West Midlands club after completing a medical on Monday night, with a view to a permanent move.
Gorkss, 31, who had previously plied his trade at QPR, has not featured for Reading since their 5-2 home defeat at the hands of Arsenal in mid-December.
"I think he can help take us where we want to go," said new boss Saunders, who joined the club last month from Doncaster Rovers.
"He is strong, brave, no-nonsense player, who will put his head in. This is a start of what I am trying to build here."
Wolves have found themselves languishing in 20th place in the Championship when many had tipped them for immediate promotion back to the Premier League.
"Kaspars has been with teams who have been promoted from the Championship over the last two years and is 31, which is a good age for a central defender." Saunders told BBC Sport.
Reading, who are facing a relegation battle themselves, have insisted on a 24-hour recall clause on the loan after the first 28 days.