6:38pm: Keith Langlois of Pistons.com has more since the signing became official.
5:46pm: Pistons PR released a statement making the Siva signing official today:
AUBURN HILLS, Mich. – Detroit Pistons President of Basketball Operations Joe Dumars announced today that the club has signed draft selection Peyton Siva to a contract. Per team policy, terms of the agreement were not disclosed.
Siva was drafted by Detroit with the 56th pick in the second round of the 2013 NBA Draft. The 6-foot-1 guard averaged 10.0 points, 2.4 rebounds and 5.7 assists as a senior last season while leading the University of Louisville to the NCAA Championship. He scored in double figures in 23-of-40 games last year, including 18 points and five assists in the championship game. A native of Seattle, Wa., Siva was named to the All-Big East Third team and the Final Four All-Tournament Team as a senior. He finished his collegiate career as Louisville’s second all-time assist leader with 677 assists.
11:30am: Siva tweeted a picture of himself signing the contract, so it seems the deal is complete (hat tip to MLive's Brendan Savage).
10:59am: The deal has not yet been made official, tweets Keith Langlois of Pistons.com, though he suggests that it will happen soon.
10:27am: The Pistons have signed 56th overall pick Peyton Siva, as Rick Pitino, Siva's college coach at Louisville, tells Jeff Goodman of ESPN.com (Twitter link). Last week's three-for-one trade that brought Brandon Jennings aboard cleared room for the rookie point guard. Vincent Goodwill of the Detroit News reported last week that Siva was likely to sign.
Siva drew plenty of looks from teams during the lead-up to the draft, even as pundits like Jonathan Givony of DraftExpress and Chad Ford of ESPN.com ranked him as no better than a late second-round pick. That's what the defensive-minded 6'1" Siva became before heading off to the Orlando summer league. In four games with the Pistons squad in Orlando, Siva averaged 6.0 assists and 1.5 turnovers in 25.7 minutes of action, garnering Honorable Mention All-League honors.
Of course, that pales in comparison to Siva's decorated college career, when he garnered the Frances Pomeroy Naismith Award as the NCAA's best undersized player in 2013 as he helped lead Louisville to the national championship. Despite his heroics, he's probably getting a minimum-salary contract from the capped-out Pistons, unless they're dipping into their $2.652MM room exception for him.
Spencer Lund contributed to this post.