I spy spies regularly on telly naked ... (8)

I haven't cracked this one yet — but the brilliant team at Fifteensquared have:

I spy spies regularly on telly, naked … <t> ELL <y> (“naked” means first and last letters are dropped) + I <s> P <y> S <p> I <e> S (“regularly” means alternate letters only are used); the definition is formed by the three dots at the end, indicating that some text has been omitted