Houston, TX (Best E Casino) - The Houston Rockets have reached an agreement to send swingman Bonzi Wells and guard Mike James to the New Orleans Hornets for backup point guard Bobby Jackson, according to the Houston Chronicle.

The deal, which has grown to include the minor involvement of the Memphis Grizzlies, is pending league approval.

The Rockets will also receive rookie guard Adam Haluska and either their own or New Orleans' second-round pick, whichever is greater. The team previously had been sending a second-round pick next season to Seattle to complete the trade for the pick they used to draft Carl Landry in the 2007 draft.

To complete the deal, Memphis will receive forward Marcus Vinicius and either a second-round pick or the rights to former Rockets draft pick Malick Badiane and the rights to an unsigned player from the Hornets.

Wells is averaging 9.2 points per game this season, while James has played in just 33 games, averaging 6.5 points per contest.

Jackson, who will turn 35 next month, has averaged 7.1 points on 39.2 percent shooting, while splitting time with Jannero Pargo behind starter Chris Paul.

The Rockets plan to use the veteran as a backup to Rafer Alston.