The New York Knicks have signed free agent swingman J.R. Smith, announcing the deal before Friday night's game against New Orleans.

Earlier Friday, Smith spilled the beans on the signing when he tweeted: "New York Knicks It Is!"

The 26-year-old veteran recently returned from playing in China and will be reunited with injured Knicks star Carmelo Anthony, his former teammate with the Denver Nuggets.

Terms of his deal were not released.

To make room, the Knicks waived forward Renaldo Balkman.

Smith averaged 12.5 points, 2.8 rebounds and 2.0 assists in 503 games for the New Orleans Hornets and Nuggets from 2004-11. He averaged 12.3 points and a career-high 4.1 rebounds in 79 games for Denver last season, his fifth with the team, and is a career 37.1 percent three-point shooter.

Balkman played 14 games for the Knicks this season, averaging 3.0 points.