Using the modulated photocurrent method we studied the deep defect creation and annealing kinetics of amorphous silicon-germanium alloys with Ge fractions below 10at.%. The modulated photocurrent spectroscopy clearly discloses the existence of two distinct bands of majority carrier traps in these alloys. The bands were identified as neutral Si dangling bonds and neutral Ge dangling bonds. Our studies show clearly that the Si and Ge defects directly compete with each other during annealing, implying a global reconfiguration mechanism. The creation kinetics reveal the usual t1/3 illumination time dependence for the total deep defect density. However, the individual densities of Si and Ge defects have different time dependencies. The details of the creation and annealing kinetics of Ge and Si defects are used to test predictions of certain defect creation models.