Trevor Penney, who played for English county side Warwickshire for 17 seasons, joined Moody in late 2005 as fielding coach. He was England's fielding coach in the 2005 Ashes series.
"Trevor's contract runs until the end of August so he will be in charge alongside Rumesh Ratnayake (a former Sri Lankan fast bowler)," the source, who did not want to be named, said.
Sri Lanka Cricket, at its executive committee meeting Wednesday, shortlisted four possible contenders to replace Moody, who is leaving to take over coaching duties at Western Australia after completing his two-year contract with the Sri Lankans. Penney is not on the shortlist.
"We are not in a hurry to appoint a new coach and (will) let the process run its course," the source said, adding that it may not be before mid-June that any announcement can be made on the new appointment.
Penney and Ratnayake, who played 23 Tests, taking 73 wickets, between 1983 and 1992, will be in charge for the tour by Bangladesh, which begins next month.