Hi Phani,
I know this is a few months old, but thought I would clarify based on our experience.
You actually can import your UR reports into CABI. Ultimately, the CABI system is just a newer version of JasperReports. Depending on how you have defined your original reports, you may need to make a few changes, but for the most part, older reports tend to run pretty good in our experience.
Just export your old reports from UR and then do an Import into the new system. You'll want to drop the iReport tool in favor of the JasperStudio tool to take advantage of the newer JasperReports capabilities.
We have done a few of the migrations.
Hope that helps a bit