But Davies will still have to serve a one-match suspension as the single yellow card he received in the game was his fifth booking of the season.
Davies was booked for a tackle on Arsenal's England defender Ashley Cole and received a second yellow card minutes later for a challenge on Patrick Vieira.
But after an appeal from Tottenham manager Glenn Hoddle, Riley has agreed to wipe out the first yellow card.
That booking means he will miss Spurs' game away at Birmingham on November 30th.