According to The Times-Picayune, the games were set to be played at Tiger Stadium in 2015 and then Sun Devil Stadium in 2016, but LSU is already scheduled to play Wisconsin in 2016 and does not want to face ASU that same season.
So, the plan is to push back -- not cancel -- the series, with the games to be played at a later date.
Incidentally, this is not the first time this series has been rescheduled. The games were originally meant to be played in 2005 in Baton Rouge and 2008 in Tempe, but Hurricane Katrina caused the '05 matchup to be played at Sun Devil Stadium. LSU won the game 35-31, but the plan from there was to play again, only this time in back-to-back seasons.