My computer just got infected with this spyware. To delete this spyware, press CTRL+ALT+DEL and go to the processes tab, then select ie_updates3r.exe and end the process.
Download and install Regrun for free.
Notes: I use Patrick Kolla's Spybot Search and Destroy to protect myself from spyware and malware, and recently just installed COMODO Firewall Pro. I have AVAST Home Edition running, it's good, but the latest update couldn't detect ie_updates3r as a spyware yet. I even tried ESET's free online tool, but it would close in the middle of scanning.
For anyone who can afford it, I highly recommend ESET's Smart Security. ESET probably has the best defense against viruses, spyware, and malware.
Hope this helps!