Updated

Indianapolis, IN (SportsNetwork.com) - In need of reinforcements to a currently depleted backcourt, the Indiana Pacers signed guard A.J. Price on Thursday.

Price, a five-year NBA veteran, returns to the team where he spent his first three seasons in the league. A second-round pick of Indiana in the 2009 draft, he appeared in 150 games with the Pacers and averaged six points and two assists.

The 28-year-old signed with Washington prior to the 2012-13 campaign and played in 28 games with Minnesota last season, averaging 1.6 points and 0.5 assists.

Price was signed by Cleveland in September but was waived by the Cavaliers on Nov. 1.

He re-joins a Pacers team that has both starting point guard George Hill (knee) and backup C.J. Watson (foot) sidelined with injuries, while shooting guard Rodney Stuckey is expected to miss at least two more games with a sore left foot.

Price will initially back up Donald Sloan, who is averaging 36 minutes per game in Hill and Watson's absences.