Smith can also be considered for the final two ODIs against Pakistan after March 29.
Some strong performances could see him and fellow cricketer David Warner get selected in Australia's World Cup squad.
Smith could feature in the IPL till April end.
He will join Australia's preparation camp post that.
Australia's coach Justin Langer on Smith and Warner
"From all accounts they should both be ready for the IPL, which is really positive. Dave's probably a little more advanced but my understanding is they'll be ready to go in the not-too-distant future," said Australia's coach Justin Langer.