Newcastle took the lead on 18 minutes when Martins controlled Nicky Butt’s pass past Liam Rosenior and rounded Andre Bikey before firing past Marcus Hahnemann.
Reading piled forward and went close four minutes later when John Oster squared for Kalifa Cisse 20 yards out, but the midfielder hit his shot wide.
Owen was on target two minutes before half-time when he ran on to Habib Beye’s pass from the right and hooked a superb shot past Hahnemann.
United netted a third on 58 minutes when Beye and Viduka combined and the defender fed the Australian, who finished superbly from 10 yards.
Reading’s afternoon was summed up on 70 minutes when Stephen Hunt scuffed his volley straight at Steve Harper.