LIV, which is bankrolled by Saudi Arabia's Public Investment Fund, and the PGA Tour have been in litigation since several LIV players filed federal antitrust lawsuits last August.
While they remain banned from PGA Tour events, Augusta will open its doors to LIV's biggest names from April 6-9. Reed and Watson are among six golfers who qualified with a lifetime exemption as past winners of the tournament.
"The storylines are going to be obviously LIV versus PGA Tour and all that," 2018 champion Reed said on Wednesday.
"But really, at the majors, top players in the world are going and playing against each other no matter where they come from. It doesn't matter what Tour they're on. For us, at least for myself, it's going to be business as usual.
"Would I like to have LIV be up at the top? Of course."
Watson, who won the Masters in 2012 and 2014, said criticism from Rory McIlroy, one of the staunchest opponents of the LIV Series, was not surprising.
"He's protecting his business, protecting his entity, which is fine," Watson said. "I'm going to be honest, it's only awkward in the media. I've talked to people that are going to be there. Some guys have already asked me to play practice rounds."
Four-time major winner Brooks Koepka, who is eligible for the Masters thanks to his 2019 PGA Championship victory, said he was with PGA Tour players McIlroy and Justin Thomas in Florida on Tuesday.
"We see each other quite a bit," he added. "I also don't think that means anything personal with any of us. No one is angry at anybody from what I've seen."
