According to the Tribune, the move will be made official on Wednesday and James is expected to join the team in Cleveland for their game against the Cavaliers.
James was waived by the Bulls (20-20) on Dec. 16 after making the roster after being a training camp invite.
Kirk Hinrich injured his right hamstring late in the third quarter of Monday’s overtime win over the Lakers and did not join the team on the trip to Cleveland. There’s no timetable on how much time he will miss.
D.J. Augustin is expected to start and will receive an increase in the 29.4 minutes he’s been averaging in a backup role.
With a win in Cleveland tomorrow, the Bulls can move above .500 for just the second time this season since improving to 4-3 on November 15 with a win over the Toronto Raptors.
The team's roster will be at 14.