According to Chris Haynes of cleveland.com, the Cavs are among a 'handful' of Eastern Conference teams interested in McLemore. So far, the Kings have rebuffed trade offers for McLemore thus far and it's unknown what the Cavs have or would be willing to offer for McLemore. Timofey Mozgov, who the Cavs have unsuccessfully offered to the Kings, would seem to a piece the Cavs have put on the table while looking to acquire McLemore.
The Cavs could have taken McLemore with the No. 1 pick in the 2013 NBA Draft, but opted to take Anthony Bennett with the top pick instead. The Kings ultimately selected McLemore with the No. 7 overall pick. McLemore, for what it's worth, is represented by Rich Paul.
McLemore is an interesting target for the Cavs. He's younger than other targets like Hawks swingman Kyle Korver, but he's struggled heavily during his time in the NBA. For the year, McLemore is averaging 7.7 points per game while shooting 45.1 percent from the field and 37.2 percent from three. Both of his shooting percentages would be career highs over the course of a full season.
Dealing for McLemore is not a bad idea, depending on the price. But there also might be better, more experianced options out there for the Cavs.