NEW YORK (Reuters) - The board of American International Group Inc is meeting on Sunday to accept the possible resignation of Chief Executive Martin Sullivan, The Wall Street Journal reported on its website on Sunday, citing a person familiar with the matter.

AIG spokesman Michael Arcaro declined to comment on the report.

The Wall Street Journal story said the resignation was not a "done deal" but was considered "highly likely."

The report also said that the AIG board would discuss replacements for Sullivan.

The article said one possibility is for AIG Chairman Robert Willumstad, a former top Citigroup Inc executive, to take over from Sullivan on either a temporary or permanent basis.

(Reporting by Nicole Maestri, editing by Maureen Bavdek)