In this paper, source localization and dereverberation are formulated jointly as an inverse problem. The inverse problem consists in the interpolation of the sound field measured by a set of microphones by matching the recorded sound pressure with that of a particular acoustic model. This model is based on a collection of equivalent sources creating either spherical or plane waves. In order to achieve meaningful results, spatial, spatio-temporal and spatio-spectral sparsity can be promoted in the signals originating from the equivalent sources. The inverse problem consists of a large-scale optimization problem that is solved using a first order matrix-free optimization algorithm. It is shown that once the equivalent source signals capable of effectively interpolating the sound field are obtained, they can be readily used to localize a speech sound source in terms of Direction of Arrival (DOA) and to perform dereverberation in a highly reverberant environment.