Lonnie Smith is a Cardinal, Bo Diaz a Phillie, Lary Sorensen and Silvio Martinez are Indians via a St. Louis-Philadelphia-Cleveland three-way baseball trade yesterday, and the Cards' manager/executive of the year, Whitey Herzog promises, "There's a lot more to come."

Herzog tags Smith, a .339 and .321 hitter and prolific base stealer his two seasons with Philadelphia, to be his center fielder, moving George Hendrick to right. And don't worry about getting shed of Sorensen, an 18-game winner in 1978 (Milwaukee) and Martinez, who won 15 in 1979, Herzog says: the trade wheels have just begun to turn. In Diaz, the Phillies land a 1981 all-star catcher (.313), given up by the Indians in order to replenish a pitching staff depleted by free-agent defections (Cleveland also will get a minor league Phillie later) . . .

The California Supreme Court has agreed to review the City of Oakland's right to exercise right of eminent domain to take over the Raiders franchise and prevent its move to Los Angeles. An appeals court rejected the idea last month . . . Missouri announces it "will accept an invitation to the Tangerine Bowl if one is extended," so put the Tigers down for Dec. 19 in Orlando, most likely against Southern Mississippi . . . And mark Houston all set to play Oklahoma in the Sun Bowl Dec. 26, El Paso . . . The day Wichita State showed up sixth in the AP preseason basketball rankings, the school forwarded to NCAA headquarters, without further public comment, its in-house investigation report on charges of 100 alleged violations in its basketball program; NCAA Infractions Committee meets Dec. 5-8 . . . Russell Cross, 6-10 sophomore who is Purdue basketball's main man, could be facing surgery on an ailing knee, Coach Gene Keady fears . . .

Purdue Athletic Director George King says, "We will assess our present staff where there are three very qualified people in my opinion," about a successor to successful Jim Young, who is tired of coaching and giving it up. Another possibility: John Mackovic, the ex-Wake Forest coach in charge of Dallas Cowboy quarterbacks. "I've never shut any doors on going back to college football," he says. "But right now my only concern is the stretch part of the Cowboys' season. We are behind the eight-ball." Huh? . . .

Check it, Vitas Gerulaitis has agreed to play tennis in Johannesburg next week, according to the South African tournament's director. But not J. Connors . . .

Reports that Muhammad Ali's Dec. 11 Trevor Berbick fight in the Bahamas won't take place: "Just vicious rumors," growls Jim Levitis, chairman of Select TV, which removed one stumbling block recently by purchasing cable and pay TV distribution rights. "The stands are going up," he said. "We're all set . . . We'll microwave the telecast to Miami via a boat" . . .

In Chicago, a federal judge has struck down an Illinois High School Athletic Association ban on players wearing clipped-on skullcaps during basketball games. The rule was enacted for safety's sake; orthodox Jewish groups protested that the bigger danger was religious discrimination against wearing yarmulkes.