Abbreviation for injured reserve. In professional sports, when a player is placed on the IR, he cannot play for a long time or is considered out for the season. It can also be used informally if someone is injured and can't play sports for a while.
Guy 1: Hey man, we're getting a baseball game together later, wanna play?
Guy 2: Nah sorry dude, I'm on the IR with a sprained ankle from playing pickup basketball.
Guy 1: Oh man that blows, I hope we can see you back on the field in a few weeks.
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