City have been this year's giant-killers in the competition, knocking out Premier League sides Chelsea and Sunderland on their way to the last eight.
With a semi-final tie at Wembley awaiting the 2013 League Cup finalists, Parkinson is excited to take on the club he represented as a player for more than a decade.
"We wanted a home draw and we got it and to be playing one of my old clubs is obviously very special," he said.
"It's going to be a special day because it's a game of such importance, but once the dressing room door closes, there'll be no sentiment at all.
"We'll be doing everything we can to progress. They've got pace down the side, an array of talent to choose from, but on the day Steve [Clarke] may change something.
"I went to watch them against Wigan and their pitch isn't in the best condition and I know they've found it tough at home, so they'll be used to playing on heavy pitches."
Two seasons ago, Parkinson's side again stole the headlines with wins over Aston Villa and Arsenal en route to a League Cup final defeat at the hands of Swansea City.
However, the former Reading midfielder maintains an FA Cup trip to Wembley would prove extra special.
"When we got to the League Cup final we spoke about making history and we did that," he added.
"If we achieve it and get to Wembley, it would the first time this club has been in [an FA Cup] semi-final since 1911 and this group of players will be remembered.
"That's what being in football is all about. There'll be teams in the Premier League casting very envious eyes on ourselves and Reading this Saturday."
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