The move is retroactive to April 24. Pitcher Carlos Contreras was recalled from Triple A to replace Bailey on the roster.
Bailey began the season on the disabled list due to a tear in his right flexor tendon and was activated on April 18. He's made two starts this season, giving up 16 hits and seven earned runs in 11 1/3 innings.
The 28-year-old went 9-5 with a 3.71 ERA in 23 starts last season for the Reds. He went on the disabled list last August and underwent flexor tendon surgery in September.
Contreras pitched 19 1/3 innings for Cincinnati in 2014 and gave up 19 hits and 14 earned runs.
The Reds are 8-10 to start the season and host the Milwaukee Brewers on Monday night.
- Molly Geary