Smith dished off seven assists and perpetrated four steals and Hancock logged his second straight 20-point game as the Cardinals (14-3, 3-1 AAC) notched a third win in four games.
Montrezl Harrell helped out with a double-double of 12 points and 13 rebounds and also blocked four shots for Louisville.
SMU (11-4, 1-2) was led by Markus Kennedy with 12 points and eight rebounds.
Millions of Getty images now available for free via embed tool
Aaron Carter is still in love with Hilary Duff