Miley Cyrus Slips Out of Revealing Grammy Bash Dress (photos!)

Miley Cyrus looked stunning in her revealing black Emilio Pucci dress… a little too revealing. The dress failed to cover her eye-popping breasts and a nipple peaked out. Is this what CBS means by too much exposure?

Miley clearly didn’t past muster on the network’s new dress code, which calls for cover on “bare sides or under curvature of the breasts.”

The 20-year-old singer was attending the annual pre-Grammy gala hosted by music mogul Clive Davis at the Beverly Hilton hotel. This year’s party was in honor of another industry titan, L.A. Reid.

The daring halter-top dress barely covered Miley’s chest. If she hadn’t been wearing a clear pastie over her nipple it would have been even more revealing.

Miley Cyrus Daring as It Gets

If she wears something similar to the Grammy Awards show tonight (Feb. 10), she’ll definitely test the network’s resolve to put on a more PG-rated show.

Some tabloid websites made much ado about Katy Perry’s dress at another pre-Grammy party earlier in the week. But it was well within the guidelines set by the network. Her dress last night was also conservative.

CBS inexplicably issued the guidelines last week, drawing hoots on the Internet. Daring dresses have always been part of the show, so why this year it felt it needed to crack down is hard to fathom.

But it’s clearly touched off a lot of speculation over which stars, if any, will violated the guidelines and whether anyone will be banned from appearing in the audience as a result.

Check out Miley’s photos and let us know your thoughts. And, follow TheImproper on Twitter for all the latest Grammy updates.