The Cubs have acquired Ian Stewart and Casey Weathers from the Rockies in exchange for Tyler Colvin and DJ LeMahieu, tweets Troy Renck of the Denver Post.

Each team acquires a 26-year-old former first round pick coming off a disappointing season. Stewart, a non-tender candidate, has long been the subject of trade rumors and hit .156/.243/.221 in limited action in 2011. Colvin, who isn't yet arbitration eligible, hit .150/.204/.306 in 222 plate appearances.

LeMahieu, 23, has a career .753 OPS in the minors and saw his first big league action for the Cubs in 2011. He'll compete for time at second and third base, according to Renck (on Twitter). Weathers, 26, was also a first-round pick, but has yet to pitch above Double-A, where he posted a 5.32 ERA in 45 2/3 innings this year. The right-hander has excellent stuff (career 11.3 K/9), but hasn't been able to control it (7.1 BB/9).

Bruce Levine of ESPN Chicago and Ken Rosenthal of FOX Sports reported yesterday that the two teams were discussing a deal involving Stewart and Colvin.