According to Mike Bresnahan of the Los Angeles Times, the current asking price is too steep, and the Suns aren't willing to give L.A. everything it's looking for.
"Phoenix could own four picks in the June draft," he writes, "And the Lakers coveted one of the more valuable two—the pick the Suns could potentially get from Minnesota or the one they might receive from Washington."
Of course they do. Both of those picks are likely to be more valuable than either the Suns' own selection or the one the rising organization will receive from the Indiana Pacers.
So far, it's been too much, but ESPN Los Angeles' Ramona Shelburne reports that the trade talks aren't just going to go away. The Lakers apparently believe that a compromise could be reached, though there's no telling which side will be doing the caving.
Should it happen?
It depends on which side you're analyzing the situation from, as the trade makes far more sense for one organization than it does the other. When you weigh the pros and cons, at least.