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Stands for "I actually laughed out loud".

Usually said by someone snorting with laughter, trying to tell everyone that they found something extremely funny
Rose: "I'm going to make some pineapple cake"
Sam: "ialol nooo, banana cake would be much better!!"
by Lizbug October 15, 2011
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Used commonly on instant messaging systems by those who want to use 'lol' but emphasize the fact that they actually DID Laugh OUT LOUD.
literally "I Actually Laughed Out Loud"

frenchbred320: I was drunk at a party last night, and an old highschool friend came up to me, and the first thing I said to him was "You're hairier than I remember".... I really just meant he had more hair on his head... but things got a little out of hand after that
lizoforshizo760: IALOL! what did he say?!
by Liz-oh June 03, 2008
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