The Cleveland Cavaliers also got in on the deal, with Jarrett Allen and Taurean Prince joining them.
Here's a look at the potential new starting lineup for the 3-6 Rockets.
PG: John Wall
SG: Victor Oladipo
SF: Danuel House Jr.
PF: P.J. Tucker
C: Christian Wood
Behind them, the Rockets can look to versatile bench players including DeMarcus Cousins, Eric Gordon and Ben McLemore.
The rest of the roster includes David Nwaba, Jae'Sean Tate, Chris Clemons, Sterling Brown, Mason Jones, Brodric Thomas, Dante Exum, Kenyon Martin Jr., Rodions Kurucs and Bruno Caboclo.
Oladipo has spent the past four years with the Pacers, earning an All-Star nod in the first two. Prior to that, he played three years with the Orlando Magic and had a one-year stint with the Oklahoma City Thunder.
Through nine games this season, Oladipo—who has been limited in the past two seasons because of a quad injury—has averaged 20.0 points, 5.7 rebounds and 4.2 assists for the Pacers, working alongside Malcolm Brodgon, Justin Holiday, Domantas Sabonis and Myles Turner en route to a 7-4 start.
He'll enter free agency this offseason, but he should provide some crucial stability to a Rockets lineup that has struggled early this year.