As first reported by ESPN's Marc Stein, the Rockets are set to acquire point guard Mike James and forward Zendon Hamilton for Reece Gaines and two second-round draft picks.

"Mike James is a talented point guard who gives us another offensive threat," said Rockets GM Carroll Dawson. "We've been interested in Mike for some time now, and we really like the defensive toughness that he brings."

Hamilton, a 6-foot-11 backup center in the first year of a 2-year league-minimum contract, will be waived by the Rockets, according to the Houston Chronicle.

However, the move was made to get James, a 29-year old guard who drew serious free agent interest from the Rockets in the offseason. In less than 25 minutes a night with Milwaukee, James is averaging 11.4 points, 3.9 assists and is hitting 38.2% from three-point range.

James, who is in the first-year of a 3-year, $10.3 million deal, hit 8-13 from the triple stripe on February 8th against the Celtics, finishing with 28 points.

The Rockets did use part of their trade exception in the deal, which does take away some of their ability to deal, but as bad as the combo of Rod Strickland and Andre Barrett was in Bobby Sura's injury absense, this was a move the Rockets had to make.

Strickland and Barrett both have major flaws that were exposed against the Sonics and Spurs. Strickland is just way past his prime while Barrett is not experienced and his size hurts. Neither player is a perimeter threat.

That changes now.