In a bitter ongoing feud, the model has claimed the cagefighter kept her phone after the couple parted ways, reported the Sun online.
The 34-year-old has even accused Reid of breaching her privacy and the matter is investigated by detectives under operation Tuleta.
The Met Police is even probing the allegations of computer hacking.
"We can confirm that Operation Tuleta is looking into an allegation of breach of privacy that may be connected to the alleged theft of a mobile telephone. We are not prepared to discuss further at this time," said a spokesperson of the Met police.
Price became engaged to Argentinian model Leandro Penna, 27, but the relationship failed.
Price then wed stripper Kieran Hayler, 25, in the Bahamas in January after just two months of dating, and they are expecting a child together.
Reid has declined to comment on the charges levelled against him.
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