We extend and improve earlier estimates of the ability of the proposed LISA (Laser Interferometer Space Antenna) gravitational wave detector to place upper bounds on the graviton mass, m_g, by comparing the arrival times of gravitational and electromagnetic signals from binary star systems. We show that the best possible limit on m_g obtainable this way is ~ 50 times better than the current limit set by Solar System measurements. Among currently known, well-understood binaries, 4U1820-30 is the best for this purpose; LISA observations of 4U1820-30 should yield a limit ~ 3-4 times better than the present Solar System bound. AM CVn-type binaries offer the prospect of improving the limit by a factor of 10, if such systems can be better underst...