Gwyneth Paltrow Flashes Sideboob in Sheer Velvet Dress in Spain -- See Her Flirty Ensemble!

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Gwyneth Paltrow, belle of the ball!

The 44-year-old actress was honored with the Icon award at ELLE's 30th anniversary party at the Circulo de Bellas Artes in Madrid, Spain, on Wednesday, where she owned the red carpet in a head-turning dress.

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Paltrow opted for a quirky floor-length Gucci gown, which featured black dance briefs, ruffled cap sleeves and a pleated velvet skirt. But all eyes were on the dress' sheer bodice, which was embroidered with a velvet rose design intricately placed over her bust.

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The mother of two completed her look with strappy Jimmy Choo heels and a bejeweled bracelet and scarlet teardrop earrings from Tous jewelry, and her subtle makeup and sleek straight hair helped keep the focus on her flirty frock.

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At one point, Paltrow also snapped a photo with James Costos, United States Ambassador to Spain and Andorra. "Thank you, Ambassador for a quick and amazing stay in #madrid and for being such a handsome date @theserranopost," she shared via Instagram. "#happy30elle #tous #gucci."

Earlier this month, Paltrow showed off her washboard abs in a glam photo shoot for the November issue of Harper's Bazaar. In her accompanying interview with the magazine, she revealed what it's like to be close pals with Beyoncé.

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"If you met her and you didn't know who she was or what she did, it would be inconceivable to you that she was Beyoncé," Paltrow said of the "shy" star. "Some really famous people, even when they're off-duty, have this energy that is sort of overpowering. She does not have that."

Hear more in the video below.

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