diff --git a/onnxruntime/core/providers/iree/compiler/jit_compiler.cc b/onnxruntime/core/providers/iree/compiler/jit_compiler.cc
index b2627753887c4..06b68c22f95f5 100644
--- a/onnxruntime/core/providers/iree/compiler/jit_compiler.cc
+++ b/onnxruntime/core/providers/iree/compiler/jit_compiler.cc
@@ -222,12 +222,16 @@ common::Status CompilerInvocation::ImportSubgraph(const onnxruntime::GraphViewer
   return common::Status::OK();
 }
 
-common::Status CompilerInvocation::CompileAndOutputVMFB(iree_compiler_output_t* output) {
+common::Status CompilerInvocation::CompileAndOutputVMFB(iree_compiler_output_t* output, std::string save_to) {
   // Main compilation.
   if (!ireeCompilerInvocationPipeline(inv, IREE_COMPILER_PIPELINE_STD)) {
     return ORT_MAKE_STATUS(ONNXRUNTIME, INVALID_GRAPH, "IREE compilation error.", ConsumeDiagnostics());
   }
 
+  // Attach the compiled output to a file.
+  save_to.append("compiled_model.vmfb");
+  ireeCompilerOutputOpenFile(save_to.c_str(), &output);
+
   // Output.
   if (auto* err = ireeCompilerInvocationOutputVMBytecode(inv, output)) {
     return ErrorToStatus(err, "Failure emitting VM bytecode: ");
diff --git a/onnxruntime/core/providers/iree/compiler/jit_compiler.h b/onnxruntime/core/providers/iree/compiler/jit_compiler.h
index 5b974d971f5d6..8021148d1394e 100644
--- a/onnxruntime/core/providers/iree/compiler/jit_compiler.h
+++ b/onnxruntime/core/providers/iree/compiler/jit_compiler.h
@@ -45,7 +45,7 @@ struct CompilerOutput {
   // Releases ownership of the output, returning a callback that can be used to
   // destroy it at a later date.
   std::function<void()> Release() {
-    iree_compiler_output_t* local_output = output;
+    iree_compiler_output_t* local_output = this->output;
     this->output = nullptr;
     return [local_output]() {
       if (local_output) {
@@ -84,7 +84,7 @@ struct CompilerInvocation {
   common::Status ImportSubgraph(const onnxruntime::GraphViewer& graph_view, const std::string& func_name);
 
   // Compile and output a VMFB.
-  common::Status CompileAndOutputVMFB(iree_compiler_output_t* output);
+  common::Status CompileAndOutputVMFB(iree_compiler_output_t* output, std::string save_to);
 
   // If there are any diagnostics, clears them and returns a loggable string.
   std::string ConsumeDiagnostics();
diff --git a/onnxruntime/core/providers/iree/iree_ep_runtime.cc b/onnxruntime/core/providers/iree/iree_ep_runtime.cc
index ed258ebb5de07..fe2e4da79cc65 100644
--- a/onnxruntime/core/providers/iree/iree_ep_runtime.cc
+++ b/onnxruntime/core/providers/iree/iree_ep_runtime.cc
@@ -13,18 +13,7 @@ common::Status HandleFailingIREEStatus(iree_status_t iree_status) {
     return common::Status::OK();
   }
 
-  std::string buffer;
-  iree_host_size_t actual_len;
-  buffer.resize(1024);
-  if (!iree_status_format(iree_status, buffer.size(), buffer.data(),
-                          &actual_len)) {
-    buffer.resize(actual_len);
-    if (!iree_status_format(iree_status, buffer.size(), buffer.data(),
-                            &actual_len)) {
-      actual_len = 0;
-    }
-  }
-  buffer.resize(actual_len);
+  std::string buffer = iree::Status::ToString(iree_status);
 
   return ORT_MAKE_STATUS(ONNXRUNTIME, RUNTIME_EXCEPTION, "IREE Runtime Error: ", std::move(buffer));
 }
@@ -43,13 +32,13 @@ Instance::~Instance() {
   }
 }
 
-iree_status_t Instance::Initialize() {
+iree_status_t Instance::Initialize(std::string device_str) {
   IREE_RETURN_IF_ERROR(iree_runtime_instance_create(
       &options, iree_allocator_system(), &instance));
 
   // TODO: Need real device selection.
   IREE_RETURN_IF_ERROR(iree_runtime_instance_try_create_default_device(
-      instance, iree_make_cstring_view("local-task"), &device));
+      instance, iree_make_cstring_view(device_str.c_str()), &device));
 
   return iree_ok_status();
 }
@@ -74,11 +63,15 @@ iree_status_t Session::Initialize() {
       &session);
 }
 
-iree_status_t Session::AppendBytecodeModule(void* contents, uint64_t size, std::function<void()> dispose_callback) {
+iree_status_t Session::AppendBytecodeModule(std::string file_loc, std::function<void()> dispose_callback) {
   dispose_callbacks.push_back(std::move(dispose_callback));
-  return iree_runtime_session_append_bytecode_module_from_memory(
-      session, iree_make_const_byte_span(contents, size),
-      iree_allocator_null());
+  // TODO: load from memory instead of file.
+  // return iree_runtime_session_append_bytecode_module_from_memory(
+  //     session, iree_make_const_byte_span(contents, size),
+  //     iree_allocator_null());
+  file_loc.append("compiled_model.vmfb");
+  return iree_runtime_session_append_bytecode_module_from_file(
+      session, file_loc.c_str());
 }
 
 namespace {
@@ -245,6 +238,16 @@ common::Status Session::Call(const char* entrypoint_name, const OrtApi* ort_api,
     iree_hal_buffer_t* ret_buffer = iree_hal_buffer_view_buffer(ret.bv);
     // TODO: Synchronous mapping read, like everything in this function, is not a
     // great idea. It isn't supported on all device types and will need a scrub.
+    iree_string_view_t device_val = iree_hal_device_id(device);
+    auto device_str = std::string(device_val.data, device_val.size);
+    if (device_str == "hip") {
+      ORT_RETURN_IF_ERROR(HandleIREEStatus(iree_hal_device_transfer_d2h(
+          iree_runtime_session_device(session),
+          ret_buffer, 0, output_tensor.GetTensorMutableRawData(),
+          iree_hal_buffer_view_byte_length(ret.bv), IREE_HAL_TRANSFER_BUFFER_FLAG_DEFAULT,
+          iree_infinite_timeout())));
+      return common::Status::OK();
+    }
     ORT_RETURN_IF_ERROR(HandleIREEStatus(iree_hal_buffer_map_read(ret_buffer, /*source_offset=*/0,
                                                                   output_tensor.GetTensorMutableRawData(),
                                                                   iree_hal_buffer_view_byte_length(ret.bv))));
diff --git a/onnxruntime/core/providers/iree/iree_ep_runtime.h b/onnxruntime/core/providers/iree/iree_ep_runtime.h
index 8adad33dfe8d5..28bcc3fa561f7 100644
--- a/onnxruntime/core/providers/iree/iree_ep_runtime.h
+++ b/onnxruntime/core/providers/iree/iree_ep_runtime.h
@@ -27,7 +27,7 @@ struct Instance {
 
   // Initializes the instance.
   // TODO: We should probably pass the options in here and use it to set up.
-  iree_status_t Initialize();
+  iree_status_t Initialize(std::string device_str);
 
   // Instance globals.
   iree_runtime_instance_options_t options;
@@ -48,7 +48,7 @@ struct Session {
   // Append a user-compiled bytecode module buffer to the session, along with a dispose callback.
   // The dispose callback will be invoked when Session is destroyed regardless of success/failure
   // of this call.
-  iree_status_t AppendBytecodeModule(void* contents, uint64_t size, std::function<void()> dispose_callback);
+  iree_status_t AppendBytecodeModule(std::string file_loc, std::function<void()> dispose_callback);
 
   // Calls the entrypoint. This returns an ORT Status and normalizes any IREE statuses to that
   // because that can arise from ORT interactions.
diff --git a/onnxruntime/core/providers/iree/iree_execution_provider.cc b/onnxruntime/core/providers/iree/iree_execution_provider.cc
index 70094efa23788..4e83f7647a613 100644
--- a/onnxruntime/core/providers/iree/iree_execution_provider.cc
+++ b/onnxruntime/core/providers/iree/iree_execution_provider.cc
@@ -33,7 +33,10 @@ IREEExecutionProvider::~IREEExecutionProvider() {
 }
 
 common::Status IREEExecutionProvider::Initialize() {
-  ORT_RETURN_IF_ERROR(iree_ep_rt::HandleIREEStatus(rt_instance_->Initialize()));
+  if (info_.find("device") == info_.end())
+    info_["device"] = "local-task";
+  LOGS(*GetLogger(), INFO) << "IREEExecutionProvider runtime device set as " << info_["device"];
+  ORT_RETURN_IF_ERROR(iree_ep_rt::HandleIREEStatus(rt_instance_->Initialize(info_["device"])));
   return common::Status::OK();
 }
 
@@ -102,15 +105,25 @@ common::Status IREEExecutionProvider::Compile(const std::vector<FusedNodeAndGrap
   // TODO: The target needs to be synchronized with the runtime based on EP options.
   // TODO: We should just be adding the target to the module instead of specifying via
   // flags.
-  std::string device_flag = "--iree-hal-target-backends=";
+  std::string device_flag = "--iree-hal-target-device=";
   if (info_.find("hal_target_device") == info_.end()) {
-    // In case device info is absent, set `llvm-cpu` as default hal-target-backend.
+    // In case device info is absent, set `llvm-cpu` as default hal-target-device.
     device_flag.append("llvm-cpu");
   } else {
     device_flag.append(info_["hal_target_device"]);
   }
-  LOGS(*GetLogger(), INFO) << "IREEExecutionProvider compile: setting device flag as " << device_flag;
+  LOGS(*GetLogger(), INFO) << "IREEExecutionProvider compile: setting flag " << device_flag;
   ORT_RETURN_IF_ERROR(compiler.SetFlag(device_flag.c_str()));
+
+  // Set all the compile-time flags.
+  // TODO: Use ireeCompilerSessionSetFlags API to set all the flags at once.
+  // TODO: support more than one extra flags by parsing the input string.
+  if (info_.find("compile_time_flags") != info_.end()) {
+    std::string extra_flag = info_["compile_time_flags"];
+    LOGS(*GetLogger(), INFO) << "IREEExecutionProvider compile: setting flag " << extra_flag;
+    ORT_RETURN_IF_ERROR(compiler.SetFlag(extra_flag.c_str()));
+  }
+
   ORT_RETURN_IF_ERROR(compiler.Initialize());
   std::string module_name = "ort";
   iree_ep_jit::CompilerInvocation inv(compiler, module_name.c_str());
@@ -137,20 +150,26 @@ common::Status IREEExecutionProvider::Compile(const std::vector<FusedNodeAndGrap
   if (auto* err = ireeCompilerOutputOpenMembuffer(&vmfb_output.output)) {
     return iree_ep_jit::ErrorToStatus(err, "Failure opening compiler output buffer: ");
   }
-  ORT_RETURN_IF_ERROR(inv.CompileAndOutputVMFB(vmfb_output.output));
+
+  // This will save the compiled module to current working directory.
+  if (info_.find("save_to") == info_.end())
+    info_["save_to"] = "";
+  ORT_RETURN_IF_ERROR(inv.CompileAndOutputVMFB(vmfb_output.output, info_["save_to"]));
+  LOGS(*GetLogger(), INFO) << "IREEExecutionProvider compiled vmfb saved at this location " << info_["save_to"];
 
   // Map raw memory.
-  void* vmfb_contents;
-  uint64_t vmfb_size;
-  ORT_RETURN_IF_ERROR(vmfb_output.MapMemory(&vmfb_contents, &vmfb_size));
+  // void* vmfb_contents = nullptr;
+  // uint64_t vmfb_size = 0;
+  // TODO: Map memory instead of storing the compiled module as a file
+  // ORT_RETURN_IF_ERROR(vmfb_output.MapMemory(&vmfb_contents, &vmfb_size));
 
   // Create a new runtime session.
   auto rt_session = std::make_shared<iree_ep_rt::Session>(rt_instance_);
+  // In case device info is absent, set `local-task` as default device.
   ORT_RETURN_IF_ERROR(iree_ep_rt::HandleIREEStatus(rt_session->Initialize()));
 
   // Load the compiled module, releasing our ownership of the CompilerOutput.
-  ORT_RETURN_IF_ERROR(iree_ep_rt::HandleIREEStatus(rt_session->AppendBytecodeModule(
-      vmfb_contents, vmfb_size, vmfb_output.Release())));
+  ORT_RETURN_IF_ERROR(iree_ep_rt::HandleIREEStatus(rt_session->AppendBytecodeModule(info_["save_to"], vmfb_output.Release())));
 
   for (auto& entrypoint_name : entrypoint_names) {
     node_compute_funcs.push_back(CreateNodeComputeFunc(entrypoint_name, rt_session));