Saunders was suspended for a second offense involving the NFL's policy concerning performance enhancing drugs. He missed the first four games of the 2012 campaign for a similar violation.
He wound up playing 11 games last year after appearing in all 16 of the regular-season games in 2011 while a member of the Pittsburgh Steelers.
Saunders will be eligible to return to the Indianapolis roster the day following the Colts' game against Houston on Nov. 3.
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