Palermo are currently in an odd situation where they sit in Serie B, but they have three Serie A-quality goalkeepers. They obviously need to sell one of them and would probably like to sell two of them. It appears that they've found a home for Emiliano Viviano, with Arsenal showing interest in the Italian international.
According to Gianluca Di Marzio of Sky Italy, Viviano's deal is nearing completion and he's gone to London to get a medical and finalize the deal:
Viviano has had a few excellent seasons for Brescia and Bologna and spent some time in the Italian national team as Gigi Buffon's No. 2. Palermo loaned him to Fiorentina with an option to buy because they are weird and Fiorentina opted not to purchase him after he put in a very good season, because they are also weird.
The fact that he's only 27 and he's already bounced around quite a bit might scare off some Arsenal fans, but it shouldn't. He's a quality keeper. He's not so good that he's going to take Wojciech Szczesny's place right away, but he's more than capable to challenge for time and will be, at worst, a highly above-average backup.