Well Iris thinks so highly of Alexis that hers is the only path where she won't fuck the MC at the garage last update. The MC also says to Alexis how even though Iris seems wild, she's actually pretty jealous and possesive in a relationship.
So I certainly don't think that she would approve of the MC cheating on Lexi with Val. She would think less of him for it IMO.
I'm split on this... in her soul she clearly wants to steal him from Alexis, but doesn't do it out of respect/care for her friend.
She might react negatively to a cheater MC, but she might also go "does that mean you are single now?"
BTW, if you break up with Alexis for Val... when you go to the garage and you tell her to "sit down", she questions "what about Alexis?" just like in the Alexis path, but the MC tells her "we aren't together anymore" and they end up fucking... fucking her friends ex after being told on the spot
She's super crazy about the guy, her "Alexis respect" is barely holding on
Or maybe she's just mad because she didn't cheat on Alex with him? Ok that was a joke... But it's really interesting that in the last scene you can have sex with Iris in any route, except Lexi's route... And there was another scene where she didn't send MC the message after the bar scene: "I still love you". It's like she's afraid of ruining the relationship. Like she's a hopelessly in love girl who only wears a mask in front of everyone else... Does Iris have a "Lexi fear-reverence fetish"? In the ASR route she has sex with MC in the beach cabin without inhibitions, and she doesn't care about anything but being with MC. And the garage scene shows that too. So I think in an Alex main route Iris would be disappointed in MC, because of his infidelity, but she wouldn't take anyone's side. She would quietly wait out the "storm" and consider her options...
Not for lack of trying
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My theory is that: Lexi is the only one who is officially the MC's girlfriend, or at least the only one that Iris knows about.
She does know about Layla on ASP, she doesn't think twice about fucking the MC, you can do it on the beach, you can do it again in the garage.
That's the only non-Alexis relationship i'm positive she knows.
I don't think she knows about Erynn(i would expect her to show the same "restraint" she has for Alexis for Erynn... if she knew), i don't think she knows about Layla without ASP, and i think she has no freaking idea who Valeria is without the beach scene...
Even with the beach scene, might not even remember her...