If the Cavs are trading Irving to NY, I think it will be something that is a big trade (i.e. lots of players).
Something like this:
Irving, Smith, Shumpert
for
Anthony, O'Quinn, Hernangomez, Kuzminskas, 2018 1st (with some level of protections)
I think if that trade goes down, then a trade with Phoenix makes some sense and something like this might work
Love, Frye, Felder, Tavares, Jefferson
for
Bledsoe, Dudley, Jackson, and Knight
Cavs agree to take on the injured Knight and his bloated contract in order to land Jackson as part of the trade.
That would leave the Cavs, post-all moves
PG's - Bledsoe, Rose, Calderon, Knight?
Wings - Korver, Dudley, Jackson, Osman
Swings - James, Anthony, Green, Kuzminskas
Bigs - Thompson, Hernangomez, O'Quinn
So that is a pretty solid 15 man team and gives the Cavs some young fresh legs on their bench in Jackson, Hernangomez, Kuzminskas, Osman, and O'Quinn (though the latter isn't all that young).
To be clear I don't think either of those trades are all that likely, but that would seemingly make some sense for the Cavs.