The pace bowler has taken 309 wickets in 71 five-day games with an impressive average.
Australia's chair of selectors Bailey has stated that skipper Cummins will have a crucial role in the forthcoming England-Australia contest.
There were concerns that the 32-year-old might sit out due to a persistent back stress problem that was still troubling him.
Earlier indications from the squad suggested no official announcement had been made regarding Cummins' participation, with the extended contest scheduled to begin on the 21st of November in the WACA.
Bailey expressed that Cummins is "building up" and felt positive about his chances of being involved.
"It's clear that the clock is ticking and multiple considerations at play, not just his injury, but further aspects," the selector added.
"The outlook is good. We firmly believe that he'll participate in a major part. Hopefully from the opening match. Otherwise, then we'll pick it up."
Past Concerns
Cummins was ruled out Australia's limited-overs series against both Asian and Trans-Tasman rivals last month after medical tests showed a stress reaction in his back.
He has a history of back injuries, with flare-ups in 2012-13, 2013-14 and 2015-16 forcing him out of several home seasons in four years.
Cummins stated he would be proactive in his approach in his recovery plan to ensure his availability for the Ashes.
Bailey noted that there was no confirmation if the captain had resumed bowling as part of his rehabilitation but conceded it was "getting tight" for him to recover fully for the opener.
Backup Options
Should Cummins not be fit, former captain Steve Smith will lead the side.
All-rounder Cameron Green was recently pulled out from the ODI lineup for their limited-overs matches against the subcontinent side as a safety move because of soreness in his side.
The selector characterized it as a "slight concern and stated that he'll feature in the domestic first-class competition, so will be "well-prepared to be ready to bowl."
"Extensive planning has gone into creating the schedule for him to be available for the initial game as an dual-role player," Bailey explained.
"Originally, he'd only feature in the first two ODIs anyway. His aggressive style the bat in limited-overs, should it hinder progress for 24 more hours, the choice was made to take a cautious route."
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