In a bid to stop the defensive rot left behind by Paulo Sousa, Davies became one of Eriksson's first signings when he joined Leicester last October.
The Centre Back was an instant success with the fans and played an instrumental role at the heart of the Foxes defence before returning to Villa Park at the end of last month.
With his playing time limited at Villa Park, the 25-year-old has made no secret of his desire to move to another Premier League club, but no deal has been achieved, leaving Davies to pursue his Premier dream with the Foxes.
Meanwhile, Bruno Berner looks in danger of losing his place at Left Back. The Swiss veteran had been dropped from first team proceedings when Greg Cunningham joined the Foxes on loan, but he has since enjoyed a run of games in the team following Cunningham's return to Eastlands in the wake of his broken leg.
Now it appears Eriksson is keen to secure the loan signing of Holland Under-21 international Patrick van Aanholt. The Chelsea man has a bright future at Stamford Bridge and will benefit from first team football at the Walkers Stadium.