Translation:I would like to read Latin literature.
It reads better with legere volo, since velim is subjunctive and begs for a more complex sentence. With velim there is an implied elipsis here. If there were an additional clause, then velim legere could work. Here's a snippet from Pliny the Younger: Quo fit, ut scribere longiores epistulas nolim, velim legere, illud tamquam delicatus, hoc tamquam otiosus.