1. Download a VLC nightly build
If you're using Windows download this zip file
http://nightlies.videolan.org/build/win32/last/vlc-1.3.0-git-20111211-0003-win32.zip

OS X & Linux users -> http://nightlies.videolan.org/
http://nightlies.videolan.org/

2. copy one of these urls
1280 x 720 http://spikelive-f.akamaihd.net/vga20111210prod0_flash_3500@62376
960 x 540 http://spikelive-f.akamaihd.net/vga20111210prod0_flash_2200@62376
768 x 432 http://spikelive-f.akamaihd.net/vga20111210prod0_flash_1600@62376

3. open VLC and go to File > Open Location from clipboard
it should automagically paste the url of the stream you copied from step 2 but if not just paste it in there and press play