is the additional hardware your own ip ?
normaly you just add a connection between your additional hardwares master port to the slave port of your sram, thats it.
the avalon switch fabric would take care about the arbitration which master (nios or the additional master) gains access to the slave and holds the master until the other master releases the slave. so your additional master must obey the wait condition. normaly the avalon switch fabric can hold 1 write transaction and releases the master (thats what i had monitored via signal tap)