Tennessee coach Jeremy Pruitt said Wednesday during the Southeastern Conference coaches' teleconference that both players had chosen to leave the program.
Neither Bailey nor Murphy played Saturday in a 38-30 season-opening loss to 26-point underdog Georgia State. Pruitt said Monday that Murphy had been sick over the last week.
Earlier this week, Murphy's Twitter account retweeted a tweet poking fun at how Georgia State upset Tennessee and received $950,000 to play in the game. The retweet was later deleted.
Murphy, a junior from Hattiesburg, Mississippi, played 10 games and caught 11 passes for 155 yards and one touchdown last season. He also ran for 58 yards on two carries.
Bailey, a sophomore from New Orleans, played four games last season but didn't post any statistics.
Tennessee (0-1) hosts BYU (0-1) on Saturday.