The Cleveland Cavaliers and the Phoenix Suns have come to an agreement on a blockbuster trade that sends Shaquille O'Neal to Cleveland to team with LeBron James, according to sources.

The deal has been agreed to in principle and is expected to be finalized Thursday, according to sources.

Cleveland will send Ben Wallace and Sasha Pavlovic to Phoenix for the future Hall of Famer. Sources said the Suns will also receive the 46th pick in Thursday's NBA draft and $500,000.