We propose to explore the low temperature magnetic ground state of the nearly ideal honeycomb iridate Ag1.5Li0.5IrO3 to confirm that no magnetic ordering occurs and that the low temperature state is dynamic - key signatures of the onset of a novel ground state, such as a Kitaev spin liquid. This work builds off our successful observation of dynamic magnetism at very low temperatures for the honeycomb iridate Cu2IrO3. Moreover, this new silver based material is particularly promising because both Ag and Li are strictly monovalent, removing the magnetic disorder observed in Cu2IrO3 due to mixed valency of the copper, and therefore Ir, ions. Additionally, the large silver ion enhances the interlayer spacing, and hence the two dimensionality, of this system relative to other honeycomb iridates.