UPDATE: A league source told 1500ESPN.com that Rubio will play on Saturday at Target Center against Dallas. The source said the Wolves want to see how the team performs with Rubio before entertaining trade offers.
Rubio tore the ACL and LCL in his left knee on March 9, 2012, ending a season in which he finished sixth in the NBA with 8.2 points per game and second in Rookie of the Year voting.
In the 22-year-old's absence, the Wolves have gone 9-9 while rotating veterans Luke Ridnour and J.J. Barea at point guard. They have won four of nine games since star power forward Kevin Love returned after missing the season's first two-plus weeks with a broken hand.
The Wolves face the Nuggets at home on Wednesday night before traveling to New Orleans to play the Hornets on Friday night. After Saturday's game, they travel to Florida for a back-to-back against the Magic and Heat.