Malone and O'Donnell were out of contract in the summer

O'Donnell set has committed himself to the Paisley outfit until June 2008 and Malone until June 2009.

Buddies manager Gus MacPherson said: "We're really delighted, especially as this deal has been going for a wee while now.

"They bring in competition for places and I hope they relish the challenge."

MacPherson is hoping to further add to his squad before the end of the transfer window on Wednesday.

"But, if we have to go as we now are for the remainder of the season, I have absolutely no problems with that," MacPherson told his club website.

The 21-year-old Malone was previously with St Johnstone, while 23-year-old O'Donnell had spells with Dundee United, Ross County and Boston United before moving to Broadwood in summer 2005.

We can celebrate the fact that we have secured one of the best young talents in the SFL Clyde Supporters' Trust statement

St Mirren manager Gus MacPherson had been ready to switch targets after a combined bid for the pair was rejected last week.

He was prepared to wait until the summer to sign the pair as they were due to be out of contract with Clyde by then.

But, instead of them signing pre-contract agreements, they are poised to move immediately to aid St Mirren battle against relegation from the Scottish Premier League.

MacPherson has endured a frustrating time during the transfer window and was beaten by SPL rivals Falkirk to the signature of Newcastle striker Carl Finnigan.

Some of the pressure now switches to Clyde player-manager Joe Miller, whose side could yet be dragged into the First Division relegation zone.

He had already lost captain Paul McHale to Dundee, accepting a fee after the midfielder signed a pre-contract agreement.

Craig Bryson, who is also out of contract in the summer, was on trial with Derby County.

But, while the 20-year-old midfielder impressed at the English Championship club, manager Billy Davies decided against making a bid during January.

The First Division club did manage to thwart interest in Neil McGregor after the defender signed a new, 30-month contract.

That battle was won thanks to funding from the Clyde Supporters' Trust.

And the club's website suggested that it was a similar situation with goalkeeper David Hutton.

A Trust spokesman said: "A while ago we recognised that there was going to be shortfall between our ambitions for the club and the income that can be derived through the gates to fund the players' budget.

"That is why we wanted to start this initiative where fans can either contribute amounts on a one-off basis or, better still, pay smaller amounts on a regular basis.