Babalola was free Thursday on bonds totaling $52,000, according to records at the Brazos County Jail. Joiner remained in the county jail with bond set at $16,000, records show.
A spokeswoman for the Brazos County district attorney's office said Thursday an arraignment had not been set. It wasn't clear if Babalola and Joiner had hired lawyers.
A&M athletic director Bill Byrne said he and interim coach Gary Darnell discussed the matter Wednesday night and determined both players would be suspended "until cleared of any wrongdoing."
"From information we have at this time, it is obvious this is a very serious situation," Byrne said in a statement. "The Texas A&M Athletics Department will cooperate completely with any investigation into this matter to gather all of the facts."
According to the police statement, one resident suffered minor injuries in the alleged Nov. 29 home invasion at the Callaway Villas Apartments. Police said two men entered the apartment, one carrying a semiautomatic pistol.
The investigation led to searches Wednesday of both suspects' homes, where drugs -- marijuana, ecstasy and hydrocodone -- and other evidence were found, according to the statement.
Police said additional charges could be filed.
Babalola, a junior offensive lineman, played in nine games this season, including six starts. Joiner, a freshman defensive end from Killeen, took a redshirt season and didn't play.
Texas A&M (7-5) plays Penn State (8-4) on Dec. 29 in the Alamo Bowl in San Antonio.
Darnell, the team's defensive coordinator, was named interim coach following Dennis Franchione's resignation last month immediately after the team's win over rival Texas.
Mike Sherman, an assistant head coach with the NFL's Houston Texans, was named head coach three days after Franchione's resignation, but Darnell will lead the team Aggies in the bowl game.
