The Ravens then filled the open spot on their 53-man roster by signing guard/center Justin Boren from their practice squad to the active roster.
Graham was signed by the Ravens on Dec. 21 and filled in admirably for Cundiff in a Week 16 win over the Browns, connecting on field goals of 48 and 43 yards.
Cundiff was able to return the following week, however, and booted a 43 yard field goal and three extra points in the Ravens' win over Cincinnati.
Head coach John Harbaugh said yesterday that Cundiff made it through the game well, and his left calf appears to be much improved.
"As long as Billy is healthy, he'll be our kicker," Harbaugh said. "We were really fortunate that Shayne was available, and if anything happens in the future, if he's still available, (we'll bring him back).
"But he did a great job. Why he's not holding on to a job right now, I'm not sure, but we were very fortunate for him to be able to come in and fill that gap for us."
Boren (6-foot-2, 309 lbs.) is an undrafted rookie out of Ohio State. He started 26 games during his time as a Buckeye and won the Jim Parker Award, an honor given by OSU coaches to the team's Outstanding Offensive Lineman as senior.
To take Boren's spot on the practice squad, the Ravens signed WR Phillip Livas, a 5-foot-7, 179-lb. speedster out of Louisiana Tech.
Livas ran a 4.43 40-yard dash at his Pro Day last March.