According to Mike Reiss of the Boston Globe, the Patriots have signed Eagles WR Greg Lewis in a trade for a 5th round draft pick. Here's a bit about Lewis' salary situation:
Lewis, 29, has spent the first six years of his career with the Eagles. He has three years remaining on his current contract, which the Patriots would inherit in a trade (barring a restructure/renegotiation). He is scheduled to earn $650,000 in 2009, $670,000 in 2010 and $725,000 in 2011.
The speedy Lewis (6-0, 180) totaled 19 receptions for 247 yards last season, with one touchdown.
After free agent WR Jabar Gaffney signed with Denver, there was a hole at #3. At 6-0, 180 he fits nicely, physical-wise, between Welker and Moss and will most likely be used in those 10-20 yarder sideline routes that Moss looks so uncoordinated at. I wouldn't be surprised if we saw more WR's brought into training camp; Belichick likes to load the roster, work 'em, and figure out who's a good fit.
[EDITORS NOTE] Mad props to Pie McKenzie's FanPost. He beat me to this news and I missed it before publishing this story.