An 11-year veteran who played the past six seasons with the Miami Heat, Jones will sign for the veteran's minimum of $1.4 million, sources said. He joins fellow former Heat teammates James and Mike Miller, who agreed to terms with the Cavs on a two-year, $5.5 million deal Tuesday.
Jones hasn't played much over the past two seasons, appearing in 58 games total. He averaged 4.9 points in 20 games last season but shot a career-high 52 percent from 3-point range. James often pushed for Jones to get more playing time because he appreciated his 3-point shooting ability.
The Cavs have also reached out to Ray Allen, another former James teammate. Allen has yet to make a decision about continuing his career, though he has talked with multiple teams to investigate his options, sources said.
The Akron Beacon Journal first reported Jones and Cavs had come to terms.