Sources: Canelo Alvarez to face Billy Joe Saunders on May 2

Atlas: Canelo thought he was the bigger fighter (1:46)

Teddy Atlas breaks down Canelo Alvarez's 11th-round TKO win vs. Sergey Kovalev and where Canelo ranks among the greatest Mexican fighters. (1:46)

Canelo Alvarez will fight WBO super middleweight champion Billy Joe Saunders on the traditional Cinco de Mayo weekend boxing slate on May 2, sources told ESPN Deportes' Salvador Rodriguez.

The announcement of the 168-pound unification fight could be made official in the next 24 hours or even sooner, the sources said.

Alvarez (53-1-2, 36 KOs) is the "regular" WBA super middleweight champion. Saunders is 29-0 with 14 KOs.

This will be the seventh championship battle for Alvarez after he won the previous six, including four in middleweight.

In his most recent outing, on Nov. 2, Alvarez scored an 11th-round stoppage of Sergey Kovalev to capture the WBO light heavyweight title.