Marc Topkin is reporting that the Rays and Joel Peralta have agreed to terms on a new contract (via Twitter). Topkin says there are no details yet on the new deal. However, there were reports earlier in the day out of the Dominican Republic that said it is a two year, $6 million contract, with a 2015 option for $2.5 million.

Peralta will be 37 in 2013. And two guaranteed years would be unusual for the Rays, who typically give veterans, especially veteran pitchers, one year deals, or occasionally one year plus an option. The chances of getting two more, much less three more, solid seasons out of Peralta at his age would seem like a long-shot.