The following quote in from www.thefightnetwork.com:
"The UFC has announced that the June 7th UFC 86 card from London, England will now be a free TV event with Chuck Liddell pulling out from the card. The new main event sees Light Heavyweights Rashad Evans and James Irvin collide. This is the smartest move possible by the company as this show would have been lost on PPV being sandwiched between the May 24th card and the July 5th event with Quinton Jackson Vs Forrest Griffin. Do you realize this means there will be 4 UFC shows in a span of 6-weeks with UFC 84, 85, 86 and a TUF 7 finale?"
So the show airing live on PPV in the afternoon is safe to assume and then it will air on tape delay on Spike TV. Nice