Reed, 35, spent 11 seasons with the Ravens before signing with the Houston Texans as a free agent this year. He was released Tuesday by the Texans, days after saying the team was "outplayed and outcoached" in a loss to the Arizona Cardinals -- the seventh straight defeat for the Texans after a 2-0 start.
Reed went unclaimed on waivers Wednesday and is now free to sign with any team.
He had just 16 tackles in seven games and recently lost his starting job in Houston.
"There are no plans to change our secondary personnel at this time," Harbaugh said. "We're happy with what we have. Our guys are playing well, so that's where we're at."
The New York Jets have shown interest in Reed, a source told ESPNNewYork.com. Their level of interest wasn't immediately known, but it appears to be more than cursory, the source said.
In Houston, Texans coach Gary Kubiak addressed Reed's release and said the move was made for football reasons and not because of his criticism of the team.
"It all gets back to football," Kubiak said. "Obviously there's a lot said and this and that. I talked to him yesterday. We're playing young guys, really like the way D.J. [Swearinger is] playing and Shiloh [Keo is] playing his role.
"In respect to his career and what [Reed has] done and for us to be in the situation we're playing him 8 to 10 plays, that was going to continue with the way we're doing it right now, I thought it was fair to him to give him an opportunity to play somewhere else and do whatever he wanted. That's how we came to the conclusion."
Reed will be considered one of the greatest players in Ravens history. He went to nine Pro Bowls and was named NFL Defensive Player of the Year in 2004.
"Ed is a Raven, and he'll always be a Raven," Harbaugh said. "I'm sure he'll be in the ring of honor someday, and I'm sure he'll be in the Hall of Fame someday. We've kept in contact with Ed, on and off here regularly. He's a good friend of everybody here."
ESPN.com Texans reporter Tania Ganguli and ESPN.com Jets reporter Rich Cimini contributed to this report.