Rod Stewart receives Knighthood from Prince William

Rod's royal day out! Stewart, 71, joins glamorous wife Penny Lancaster, 45, for night out with the Queen... hours after receiving Knighthood from Prince William

Rod and wife Penny attended awards show at the Royal Academy of Arts on Tuesday night alongside Queen Elizabeth II and the Duke of Edinburgh

Veteran rocker received a knighthood from Prince William just hours before where Duke of Cambridge told him 'It's great that you're still going'

Singer was joined by Penny and sons Alistair and Aiden

Published: 06:23 EST, 11 October 2016 | Updated: 04:06 EST, 12 October 2016

Just hours previously, he joyously received a Knighthood from Prince William for his services to music and charity.

Yet Rod Stewart's royal fun did not end there as he joined his wife Penny Lancaster for a night out at the Royal Academy of Arts on Tuesday while attending the same awards ceremony as Queen Elizabeth II and the Duke of Edinburgh.

The 71-year-old rocker shed the tartan trousers he wore earlier in the day at Buckingham Palace as he sported a slick black suit while Penny, 45, got racy in a leopard print mini dress and fur stole.

Scroll down for video

Delighted! Rod Stewart joined his wife Penny Lancaster for a night out at the Royal Academy of Arts on Tuesday as they attended the same awards ceremony as Queen Elizabeth II

Look ladylike in an Elie Saab floral dress like Penny

$3839

Elie Saab Floral Lace Dress

Get it at Harrods!

Buy now

Penny Lancaster looked proud as punch as she accompanied hubby Rod Stewart to receive his Knighthood in recognition of his services to music and charity today.

And she was certainly dressed for the occasion, looking super glam in an Elie Saab floral lace dress, which she teamed with black heeled sandals and a pale pink fur stole.

We love this dress on Penny, the fit and flare silhouette is super flattering; meanwhile the short length shows off her famous pins perfectly.

Made of sumptuous silk featuring a floral motif on the skirt, combined with lace paneling, this dress is simultaneously sexy and sophisticated- what’s not to love?!

And the good news is it’s available to buy online right now at Harrods, simply follow the link on the right to snap it up! But if the price tag is putting you off, check out our edit of similar styles in the carousel below.

* PRICES MAY NOT BE AS ADVERTISED

...NOW GET ONE LIKE IT FOR LESS

Tuesday night's festivities saw the monarch present awards to five individuals who have made a national contribution to the visual arts or architecture.

While Rod looked slick in a black suit, Penny slipped into a super sexy leopard print gown paired with a stunning black fur stole, while boosting her height with a pair of staggering heels.

Her blonde tresses were coiffed to perfection as she glowed, no doubt joyous in the wake of her husband's mammoth achievement.

As they headed into the event ahead of Queen Elizabeth, the royal was hot on their heels looking in high spirits while sporting an exquisite jacquard two-piece cream suit.

Quick chat: Statuesque Penny leaned down to speak with the monarch during their exchange

Listen up! The lovebirds appeared intent on making the most of their time with the Queen

Excited! The rocker struggled to contain his excitement as he posed for snaps with his wife

A beaming queen: As they headed into the event ahead of Queen Elizabeth, she was hot on their trail looking in high spirits while sporting an exquisite jacquard two-piece cream suit

Stepping out in style: The couple looked as glam as ever as they arrived at the event

A glam pair: The 71-year-old rocker shed the tartan trousers he wore earlier in the day at Buckingham Palace as he sported a slick black suit while Penny, 45, got racy in a leopard print mini dress and fur stole

Dashing: While Rod looked slick in a black suit, Penny slipped into a super sexy leopard print gown paired with a stunning black fur stole, while boosting her height with a pair of staggering heels

Paired with the ensemble was her favoured underarm handbag in a patent black leather alongside matching heels. She also wore elegant beige gloves.

The beaming monarch looked overjoyed to be attending the ceremony as she greeted waiting guests with a warm handshake followed by her husband.

Further celebrity arrivals at the bash included David Walliams who was joined by his beloved mother Kathleen, who looked dazzling in a lace purple dress.

Rod and Penny were undoubtedly overwhelmed by their day of royalty, as they not only rubbed shoulders with the Queen but also her grandson.

Smiles all around: The beaming monarch looked overjoyed to be attending the ceremony as she greeted waiting guests with a warm handshake followed by her husband

Smiley as ever: Paired with the ensemble was her favoured underarm handbag in a patent black leather alongside matching heels. She also wore elegant beige gloves

Arrival of the day: Queen Elizabeth was surrounded by her aides and her husband ahead of the ceremony

Your public awaits: The Royal couple gleefully greeted attendees as they arrived at the event

Mother and son: Further celebrity arrivals at the bash included David Walliams who was joined by his beloved mother Kathleen, who looked dazzling in a lace purple dress

Fit for a Queen: The monarch was prized with a pair of stunning purple flowers

Earlier in the day, Rod was once again joined by his model wife and their two children as he received his Knighthood in recognition of his services to music and charity.

The veteran rocker was bestowed the honour by Prince William at Buckingham Palace following a decades spanning career that began in the early '60s with little known rhythm and blues group The Dimensions.

Arriving on the arm of his statuesque wife and joined by sons Alistair, 10, and five-year old Aiden, Rod was in characteristically high spirits as he prepared to accept his award.

Arise! Earlier in the day, Rod was once again joined by his model wife and their two children as he received his Knighthood in recognition of his services to music and charity

This is for you: It was a proud moment for Rod as the second in line to the throne awarded him his medal

One is ecstatic: On his meeting with Prince William, he later said 'We talked about music and he said "It's great that you're still going" and I said: 'I have to - I've got eight children!'

Delighted: The rocker posed for photos after receiving his honour from the Duke of Cambridge

Proud moment: Rod Stewart was joined by model wife Penny Lancaster and their two children, Alistair and Aiden, at Buckingham Palace

Oooh la la: Rod strikes a pose clutching his medal as he leaves the Palace with Penny

The singer, who was born in affluent North London suburb Highgate to a Scottish father and English mother, acknowledged his Celtic heritage by sporting a pair of colourful Tartan trousers for his meeting with Prince William.

Standing alongside her diminutive husband, Penny, 45, caught the eye in a faux-fur stole and thigh-skimming floral print dress.

The model and presenter teamed her elegant ensemble with a delicate netted fascinator and strappy peep toe heels.

Behind every great woman...: Queen Elizabeth II's husband followed closely behind her

The rocker later said he wished his parents were there to see him receive a Knighthood, as the Duke of Cambridge congratulated him at Buckingham Palace.

Reflecting on his meeting with the Prince, he said: 'We talked about music and he said "It's great that you're still going" and I said: 'I have to - I've got eight children!

'He congratulated me on my long career - and I said how happy this made me. I just wish my mum and dad had been here to see it.'

Big day: Rod looked delighted as he reflected on his meeting with the Prince shortly after receiving his Knighthood

Quality time: The family posed for pictures in the grounds of Buckingham Palace

All mine: The proud star showed off his medal with members of the press on Tuesday afternoon

Sir Rod will meet the Queen later at a reception at the Royal Academy of Arts - her first public engagement in London since returning to Buckingham Palace after spending the summer at her Scottish residence.

The singer disagreed with comments from Liverpool's first black footballer, Howard Gayle, that the word "Empire" should be removed from honours titles, saying: 'The Empire's not quite as big as it used to be, but it's still there, so I'm all for keeping the Empire.'

Rod previously described the award as a "monumental honour".

In good company: Arriving on the arm of statuesque Penny, Rod was in characteristically high spirits as he prepared to accept his honour

Suited and booted: Alistair, ten, and five-year old Aiden were dressed for the occasion

Great Scot: Rod, who was born in affluent North London suburb Highgate to a Scottish father and English mother, acknowledged his Celtic heritage by sporting a pair of colourful Tartan trousers for his meeting with Prince William

Looking ahead: Sir Rod will meet the Queen later at a reception at the Royal Academy of Arts - her first public engagement in London since returning to Buckingham Palace after spending the summer at her Scottish residence

Regret: The rocker later said he wished his parents were there to see him receive a Knighthood

Picture of elegance: Penny caught the eye in a faux fur stole and thigh-skimming floral dress

He said: 'I've led a wonderful life and have had a tremendous career thanks to the generous support of the great British public.

'This monumental honour has topped it off and I couldn't ask for anything more. I thank Her Majesty and promise to wear it well.'

Elsewhere British actor David Oyelowo was given an OBE for his services to drama.

That's my boy! David Walliams' mum Kathleen looked on with pride as her son met the Queen

Social butterfly: Queen Elizabeth II was also seen greeting veteran comedian Lenny Henry

Touched: Annie Lennox appeared touched to be meeting the monarch as they enjoyed a chat

Bow down: Richard E. Grant bowed graciously in front of her as the pair shook hands

VIPs: (L-R) Farshid Moussavi, Conrad Shawcross and Grayson Perry were also on hand

Let's hug it out! Funnyman David affectionately hugged his mother as they posed with Lenny

Big day out! The stars appeared to be in jovial spirits as they gathered for a group shot

He's such a ham! Screen star Richard also got playful as he hammed it up for the cameras

He's got sole! Artist Grayson Perry stepped out in particularly eye-catching style at the event

All ears: The Royals listened intently as Grayson later took to the stage to make a speech

Specs appeal: Grayson threw on a stylish pair of spectacles for his big moment on the stage

The Queen Of Katwe star has said receiving the honour years after being given a Prince's Trust grant to join a youth theatre production felt like a "full-circle moment".

He said: 'To be honoured by the Queen in this way having been aided by her son's charity feels like a beautiful full-circle moment.'

Others to be honoured included Vanessa Kingori, publisher of British GQ, who was given an MBE for services to the media industry, and Professor Nick Webborn, who received an OBE for services to Paralympic Sports Medicine and the British Paralympic Association.