Derek Lowe was 8-10 with a 5.52 ERA in 21 starts for the Indians. (US Presswire)

The Yankees signed former Indians right-hander Derek Lowe, CBSSports.com Insider Jon Heyman confirms. 

Lowe is expected to join the team on Monday, but will not be replacing CC Sabathia in the rotation, according to Heyman. Right-hander Ryoto Igarashi is expected to join the team in Toronto for Sunday's game, but isn't expected to be with the team past Monday, when Lowe joins the Yankees for the series against the Rangers.

Lowe was released by the Indians on Friday after being designated for assignment on Aug. 2. The 39-year-old was 8-10 with a 5.52 ERA in 21 starts for the Indians. After starting 6-2, Lowe was 2-8 with an 8.80 ERA in 12 starts since May 26.

In parts of 16 seasons with the Mariners, Red Sox, Dodgers, Braves and Indians, Lowe is 174-156 with a 4.01 ERA.

Marc Carig of the Star-Ledger originally reported the signing.

For more baseball news, rumors and analysis, follow @EyeOnBaseball on Twitter, subscribe to the RSS feed and "like" us on Facebook.