According to Sean Deveney of Sporting News, the Clippers have reached out to the Celtics about potentially acquiring Kevin Garnett.
— Sean Deveney (@SeanDeveney) February 3, 2013 
Garnett does have the right to waive the no-trade clause in his contract.
The two Clippers players mentioned in the report, Bledsoe and Butler, are each average approximately nine points per game. The Clips' point guard signed through the 2014-15 season (maxing out at just more than $3.75 million), while Butler's deal stretches until after the '13-14 campaign (paying him $8 million per season). The NBA trade deadline is Feb. 21 at 3 p.m. ET.
Should Celtics trade Garnett to Clippers in deal involving Butler/Bledsoe?Yes, that's getting good value No, Garnett is too important to make this deal