See the post i created recently it is very similar to what you are trying to do...

http://itninja.com/blog/view/reader-x-10-1-3-mui

Forgive me for not having all the details in front of me, it's been a minute since doing reader.
What you need is to create an admin install of the reader x - use the /a switch if you arent familiar, then download the update .msp from adobe, and apply it with the patch switch /p.  From there you can then create the mst and deploy it via citrix.  I'm sure there's an adobe documentation page somewhere on it.

There is no harm in slip streaming it together, but it is recommended to install the base software and then install the patches later on.

If suppose10.0.3 has some problem which you discover later and there is a new patch 10.0.4, then you will have to create a new package. If you would have followed MSI and then MSP installation, then just remove the 10.0.3 patch and replace it with 10.0.4 for all the users in future as well.

Adobe Enterprise Admin Guide for Acrobat family of products 9.x to 11.x

http://helpx.adobe.com/content/dam/kb/en/837/cpsid_83709/attachments/Acrobat_Enterprise_Administration.pdf

This guide shows you how to create an Admin Install Point and how to apply updates to it.  There are update rules and constraints regarding Acrobat/Reader Admin Install Points - this document will provide links to them.