The Welshman is headed to Arsenal's London Colney training ground to meet up with Wenger to discuss the current condition of Ramsey, according to the Daily Mail.
Speed intends to pick Ramsey in his squad that will face the Republic of Ireland for their Four Nations Cup clash on the 8th of February 2011, but admitted he was unclear about the star midfielder's current physical condition, and would need the Frenchman's advice.
He said: "I am going down to Arsenal this week to see where Aaron is at. I haven't spoken to Arsene yet but we have been in touch with the club.
"I have to speak to Arsene and see whatever is the best thing for Aaron in terms of his comeback.
"Obviously, the priority and realistic target is to have him for the England game but it might be a case that Aaron needs a game and Arsene says I'd like Aaron to play against Ireland. It all depends what happens between now and then."
What complicates matters is the fact that Ramsey has yet to play for the Gunners, since his double leg break after a poor tackle by Stoke City's Ryan Shawcross in February 2010.
The 20-year-old has spent a month on loan to Nottingham Forest, and Speed believes that Ramsey could be ready to play for his country.
Speed added: "I saw Aaron at Forest when he made his first full start against Derby and I thought he was excellent.
"He came off after 60 minutes because he was a bit tired but he was really good.
"It's just a fitness issue now. He needs to play football but he was certainly up to speed from what I saw of him in that 60 minutes at Forest."
Ramsey joined Arsenal in 2008, leaving Cardiff City for a transfer fee of £4.8 million.