Egypt's Armed Forces General Command is reportedly holding a crisis meeting, as an army deadline to resolve the country's political crisis draws near.
A military source told the Reuters news agency that senior commanders are attending the talks.
The army has threatened to intervene unless President Mohamed Morsi agrees to a resolution. It could dissolve parliament and take control of the country, sparking fears of a military coup.
Tens of thousands of Egyptians have staged protests across the country Earlier, a state-run newspaper claimed Mr Morsi will either step down or be removed from office when a political road map for the future of the country is drawn up.
The Al-Ahram newspaper said the plan would establish a three-member presidential council to be chaired by the head of the Supreme Constitutional Court.
However an Egyptian military source denied the reports and said he expected political, social and economic figures to be called to talks.
Thousands joined a protest in Tahrir Square in Cairo Mr Morsi previously refused to step down and said he would protect democratic "legitimacy" with his life.
Addressing the nation in a 45-minute televised speech, he said he had been voted for in a free and fair election and it was his job to "safeguard the revolution" that put him in office.
Mr Morsi called for calm and said Egyptians should not attack the army, police or each other. He was, he said, attempting to get the army to return to its normal duties and withdraw its ultimatum.
Mr Morsi said he would protect democratic "legitimacy" with his life Sky's Middle East Correspondent Sam Kiley, in the Egyptian capital Cairo, said: "What matters is what does the military do now it's nailed its colours so firmly to the deadline that comes on Wednesday evening, and what will be the reaction, not only of Mr Morsi, but of his supporters?
"The President has very substantial support from, broadly speaking, Islamists across the country and they are not likely to take a sudden change in a presidency that has a three-year mandate lying down.
"They've put out numerous statements on social media saying they will fight and lay down their lives for the cause."
A protester sits in front of anti-Morsi artwork on a Cairo building The armed forces, which took control of the country after the overthrow of Hosni Mubarak in 2011, have intensified their presence in Egypt's cities ahead of the deadline.
Thousands of people gathered in Tahrir Square, the birthplace of the revolution, while a giant crowd protested outside the Qasr el-Qobba presidential palace where Mr Morsi has been working in recent days.
Meanwhile, Muslim Brotherhood supporters who witnessed clashes near Cairo University told Sky News demonstrators were attacked with automatic gunfire.
They claimed many protesters were killed and said they expect similar attacks after the deadline passes.
The Foreign Office has warned against all but essential travel to most of Egypt and said any Britons in the country should consider "whether they have a pressing need to remain".
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