HAHAHA! Yes! Reed's brain would be all twisty (because, y'know, he can do that so well), what with Tony having showed up on his door all not!Tony - though he probably chalked that and his not-quite-Tony-but-still-wild story about "he's got mine ... help before he does something with it" to Tony (a) being sick or maybe influenced by aliens or (b) trying some new hedonistic substance or other. His brain and his tongue would just knot right up when he saw the lace, the smoldering look, the ...

And then Tony!Pepper would give a very unladylike "Oh, shit" when he sees Pepper!Tony walk in behind Reed.