When a friend or someone you know with an iPod tells you that he or she has an awesome song that you must listen to, but then plays Rick Astley's "Never Gonna Give You Up" from the internet phenomenon of Rick Rolling people.
Also used as:
Jeff: Dude, check out this awesome new song from Kelly Clarkson's new album!
Matt: No way?
Jeff: Yeah dude, look! -plays "Never Gonna Give You Up"-
Matt: Damn, I got iRolled again!