Sounds like Speedy could be making her "Smallville" debut in the November episode "Crossfire." Which is cool, along with the Wonder Twins, Metallao, and [Major] Zod, Speedy will be another DC character out of the vault and onto the small screen in the upcoming 9th season.
The Green Arrow character portrayed by Justin Hartley has not gained enough popularity to get his own spin off series, but that's not stopping the expansion of the Green Arrow's world in Smallville. The Green Arrow brings a serious tone to the show, one that makes Clark feel like he has to do something other than go back to Smallville and milk his cows.
Per Kryptonsite, this Speedy could be the female version of Green Arrow's apprentice, Mia Dearden, rather than his first partner, Roy Harper. Which is fine, "Smallville" does what they want with it's characters, so this is no surprise.
This from MTV:
"Additionally, this potential Speedy's back story seems fairly rooted in its comic book origins, with Dearden supposedly working as a hooker for a tattooed pimp named Rick. Of course, the rumor that Dearden drives Queen's Lamborghini and he calls her "Speedy," seems to seal her fate in the hero business-- especially if he ends up taking her on as a sidekick to help get her out of trouble.
Mia was revealed to be HIV positive early in her crime-fighting career, making her an advocate for HIV and AIDS education in her comic storylines. Whether this version of Speedy will mirror her comics self is unclear, but it does present "Smallville" with an opportunity to air information on the subject."
If the show chooses to showcase the fact that Speedy is HIV positive they need to do it in a proper way. This issue would be the first real issue the show has explored and they should handle it accordingly as it will strike a nerve with many of the show's viewers.
I could honestly care less if Speedy is in season 9 or not. They sure as hell better make Clark fly. I really enjoyed the first two seasons of "Smallville." The first episode rocked. But after the third season started you got that "redundant" feeling watching the show. I felt that Clark was going to be chasing Lana for the duration of the show, never being able to get a hold of her. I started watching again last year hearing the rumor of Doomsday being on the show sparked my interest. It was cool to see Doomsday, but they could have done so much more with him. It was kinda disappointing. With the looming end of the series in the air you would think that the show's producers and writers would "bring it" to finish the series. Who knows? I guess we'll all just have to wait and see.