Shape memory alloys (SMAs) present exciting opportunities across a variety of fields, including aeronautics, robotics, biomedical engineering, and structural engineering. The unique properties of these materials arise from a solid-to-solid phase transformation that occurs at the microscopic level. Modeling the phase transformation in SMAs is a complex topic. Recently, SMA models that couple phase transformation with permanent inelasticity have been developed to account for degradation effects commonly observed during cyclic loading—a phenomenon known as functional fatigue. In this paper, we present some extensions of the classical static and kinematic shakedown theorems of plasticity to such material models. These extended results provide conditions under which energy dissipation remains bounded, offering significant benefits for the fatigue life of SMAs. As an application, we investigate the shakedown behavior of a nitinol stent subjected to combined pressure-bending loads. The study demonstrates how the proposed approach can be integrated with finite-element analysis to examine the shakedown behavior of complex three-dimensional structures, offering practical insights into the design and durability of SMA-based systems.