Sherman interviewed for the position last week, and it went well, according to sources.
The Bucs are intrigued by Sherman's ample NFL and college experience, and he brings a message and demeanor very different from recently fired coach Raheem Morris.
Sherman went 57-39 in six seasons in Green Bay from 2000 to 2005 and coached the Packers to three consecutive NFC North titles from 2002 through 2004. He was fired after posting a 4-12 season in 2005.
Phillips, who rejuvenated the Texans' defense in his first season with the team, was outspoken last week that he should be considered for head-coaching positions. The Houston Chronicle reported that Phillips' interview with the Bucs will take place on Friday.
"We'll talk and see how much interest (the Bucs) have in me," Phillips told the Chronicle. "I'm gratified somebody noticed. I don't want to leave Houston, but I want to be a head coach."
The Bucs already have talked to Tennessee Titans defensive coordinator Jerry Gray, putting them in compliance with the Rooney Rule, which requires NFL teams to interview minority candidates for head-coaching positions.
Follow Jason La Canfora on Twitter @JasonLaCanfora.