It's a move that could help Silva avoid possible detention in expanding corruption probes that have now touched the top of Brazil's political leadership.
Dep. Jose Guimaraes posted on Twitter that Silva is the new No. 2 in Rousseff's Cabinet.
President Dilma Rousseff met with Silva for more than four hours late yesterday and again today in the capital, Brasilia.
Top Brazilian newspapers and the official Agencia Brasil news agency said the talks were focused on a possible Cabinet post.
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A Cabinet post would make it harder for prosecutors to investigate Silva because only Brazil's Supreme Court can authorize the investigation, imprisonment and trial of Cabinet members and legislators.
Silva was wildly popular when he left office in 2010, but his support has slipped along with Brazil's economy and as the corruption probe has implicated numerous members of his Workers Party.
Rousseff and Silva until recently had been untouched by the turmoil, but the Supreme Court on Tuesday accepted a plea bargain by the party's former leader in the Senate, Delcidio do Amaral, that alleged Rousseff at least knew about wrongdoing at Petrobras, which she formerly oversaw.
The Supreme Court yesterday ruled that Cunha's wife and daughter be tried by a judge who is handling the Petrobras investigation. Investigators allege the two benefited from illegal funds from Petrobras contracts.