 On July 13, 2012, Speights re-signed with the Grizzlies to a two-year, $8 million contract.On January 22, 2013, Speights was traded to the Cleveland Cavaliers, along with Wayne Ellington, Josh Selby and a future first round draft pick, in exchange for Jon Leuer.In his half a season with the Cavaliers, Speights averaged 10.2 points and 5.1 rebounds in 39 games.