03/14/2011 03:51 pm ET | Updated May 25, 2011

Irina Shayk Steps Out In Sheer Ensemble (PHOTOS)

Sports Illustrated swimsuit issue cover girl Irina Shayk stepped out to the launch of the Xti 2011-12 shoe collection in Madrid in an ensemble that only she could pull off -- a lacy and sheer gray tank top paired with black leggings see-through patches.

Take a look and tell us what you think.