Falkirk gave the former Rangers, Celtic, Hearts and Dundee United defender his first managerial role almost nine years ago.
He replaced Eddie May as Bairns boss as the club fought relegation from the then SPL.
In total Elvis was in charge at The Falkirk Stadium for 143 games, with a win percentage of 44%. He led the club to the SFL Challenge Cup in April 2012.
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He also steered the club to two Hampden visits, one a 3-1 League Cup defeat to Celtic and the other a 4-3 extra time defeat to Hibs. However after sealing the Scottish Cup semi-final with a win over Hamilton, he moved south to another of his former clubs, Coventry City.
After a spell at the Ricoh Arena he also spent time in charge of Fleetwood Town and Paphos in Cyprus.
He will replace John Sheridan at Brunton Park with the Cumbrian club currently sitting sixth in skybet League Two.