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Cycling allows players to pay a certain mana cost (typically 1 or 2 colorless mana) and discard that card from their hand and draw a new one

Currently, under rule 702.62b, they wouldnt, since they need to fulfil three requisites: being in exile, have time counters on it, and have suspend, which Alaundos ability doesnt reference

See someone casting a spell you like the look of

For example, the Festering Goblin (found using the Random button on magiccards.info) above can use the statistics of a normal Goblin from Savage Worlds Deluxe Bestiary with the "Undead" Monstrous Ability added (he is a zombie after all)

While this effect isnt super powerful and wont change the game on its own, its a cheap, reliable, and flexible option if you want to generate value over time