The four-time World Cup winners will play in a tri-series which also includes South Africa with the final on 6th September.
Australia will play both sides twice before the final and the tour is the start of a busy period as they build up to the 2015 World Cup, which they co-host with New Zealand.
"Nathan Lyon has done very well in Test match cricket, but first came under notice through his performances in short form cricket," National Selector Rod Marsh, naming his first squad, explained.
"He bowled well in last year’s RYOBI Cup competition and having not played an ODI since early 2012, the NSP is keen to see him in action again.
"Ben Cutting has been in terrific form for Australia A and bowled his heart out. He also showed outstanding form in the RYOBI Cup competition last summer and has earned his spot.
"Kane Richardson has been bowling beautifully up in Darwin under Mark Waugh’s watch and his figures have been terrific. We now want to see him continue that form for the national side.
"The thing we like most about Mitch Marsh at the moment is his bowling. He’s capable of opening the bowling or coming on through the middle overs and can do so with good pace which is pleasing.
"It’s the sign of a true all-rounder if they can be in the side for either their bowling or batting and he is certainly getting close to that which is great for Australian cricket."
Going on to talk about the players that didn't make the cut, Marsh added:
"Phillip Hughes, Xavier Doherty and Clint McKay can all consider themselves unlucky.
"We would have loved to pick Phillip but it’s quite difficult to find the spot for him with a strong batting line-up.
"He was in superb form during the recent Australia A one-day matches, including a stand-out double-century and the NSP will certainly be continuing to watch him closely.
"We’re very aware of what both Xavier and Clint offer and both have played important roles for the ODI team and performed very well but with the World Cup edging closer we have to take opportunities to also consider players like Cutting, Lyon and Richardson who have all been pressing claims."
Australia ODI squad: Michael Clarke (captain), George Bailey (vice-captain), Ben Cutting, James Faulkner, Aaron Finch, Brad Haddin, Mitchell Johnson, Nathan Lyon, Mitchell Marsh, Glenn Maxwell, Kane Richardson, Steve Smith, Mitchell Starc, Shane Watson
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