Houston Rockets General Manager Daryl Morey announced today that the Rockets have acquired a second-round selection (54th overall) from the Orlando Magic for cash considerations. The pick was originally obtained by the Magic from the Cleveland Cavaliers.

The Rockets moved up two spots from their own second-round pick (56th overall), which was sent to the Milwaukee Bucks to acquire Mike James back on Feb. 24, 2005. Houston now owns the 26th and 54th selections in tonight’s NBA Draft.

Orlando owns pick #44 overall.

InsideHoops.com editor says: To state the obvious reaction to this minor news, the Rockets presumably like a specific player that they hope will be available late second round. So, keep an eye on who they take at 54.

Fans are discussing the deal here.