The NBA has been looking to expand overseas for years, and Stern said in the past he would like to play a meaningful game in London before it hosts the Olympics in 2012.
The USA's National Football League has staged an annual regular season game in London for each of the last three seasons and the National Hockey League has also held games in London in the past.
"The staging of regular-season games in Europe is a milestone for the NBA," said league commissioner David Stern. "By bringing these two young and exciting teams to London, we are fulfilling our commitment to schedule a regular-season game in the UK prior to the 2012 Olympics.
"[It is] a natural progression given the overwhelming response to the many friendlies we have played to sold-out crowds over the years."
The O2 has hosted pre-season NBA exhibition games in October for the past three years and the NBA has a 20-year tradition of bringing NBA teams to Europe. The New York Knicks join the Lakers and Timberwolves for games in Barcelona, London, Milan, and Paris in October 2010 as part of NBA Europe Live.
