The Collaborative International Dictionary of English v.0.48:

Cave \Cave\, v. t. [imp. & p. p. Caved; p. pr. & vb. n.
   Caving.] [Cf. F. caver. See Cave, n.]
   To make hollow; to scoop out. [Obs.]
   [1913 Webster]

         The mouldred earth cav'd the banke.      --Spenser.
   [1913 Webster]