Irving went down with what is believed to be an MCL injury back in Week 9 and reports indicated that he was likely to miss a few weeks.
Irving, 26, is in the final year of his four-year, $2.735 million rookie contract and will be an unrestricted free agent after the season.
His year ends with him recording 46 tackles, one sack and a safety over the course of eight games. Pro Football Focus has him rated as the No. 19 inside linebacker this season.
Davis, 22, is an undrafted out of Sacramento State last year, but he had been waived and later re-signed on numerous occasions this season.
This season, Davis has appeared in three games and recorded three tackles.