The 54-year-old actor handed the Entertainer of the year award to Deepika, who had four back-to-back hits last year including 'Race 2', 'Yeh Jawaani Hai Deewani', 'Chennai Express' and 'Ram-Leela'.
On the insistence of hosts Shahid Kapoor and Farhan Akhtar, the Hollywood actor joined Deepika and shook his leg on the hit song from 'Chennai Express'.
"It is great to be here and seeing the performances. I am thankful to IIFA," Spacey said.
Earlier in the day Spacey was part of a interactive session with actress Priyanka Chopra at IIFA awards.