ILAY is I LAUGH AT YOU. A bit like LOL. But more sophisticated.
Dude ILAY you were such a dumbass to take a dump in the middle of class.
by macdude April 19, 2009
1 more definition
Saying ILY out loud to someone to sound more cute.
Hey Stacey, ilay :)
by bananamilk January 05, 2010