The team has signed kicker Shayne Graham, an 11-year veteran who made the Pro Bowl back in 2005 but has bounced around since leaving the Bengals at the end of the 2009 season.
Graham was with the Ravens in training camp last year, but Cundiff beat him out for the kicking job.
Graham has kicked for five organizations since being cut by the Ravens last summer, and this now marks the fourth team he's seen time with since the start of training camp this year. Graham went 12-of-12 on field goal attempts with the Patriots last year (with a long of 41) and was 4-of-5 with a long of 28 in two games with Miami this season.
The Ravens have not placed Cundiff on injured reserve, meaning they will carry two kickers on their 53-man roster for now. Their hope here is to give Cundiff some time to rest and left his lingering left calf injury heal, and hopefully he'll be back near full strength and able to find some consistency as the playoffs roll around.
Cundiff has gone just 27-of-36 this season, including 2-of-5 in December. He missed a 36-yard field goal wide right in Sunday's loss to the Chargers.
To make room for Graham on the roster, the Ravens placed rookie linebacker Chavis Williams on injured reserve with a foot injury. Williams has appeared in five games, but hasn't recorded a tackle.