Originally, i thought he would go to RAW and take the belt off Cena, because there really is nothing left for Kennedy to do on SMACKDOWN. But now that I think about it, Cena's got three potential challengers on RAW: Edge, HBK, and Orton. RAW is stacked as it is with main-eventers, plus Triple H is set to return in the summer/fall.
I definitely can't see Kennedy cashing in against Undertaker. I'm going to guess that Kennedy waits until Summerslam/Survivor Series to cash in against possibly Batista, who could win the belt back by then. Thoughts?