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The spin polarization of photoelectrons in two-color XUV + optical multiphoton ionization is theoretically considered using strong field approximation. We assume that both the XUV and the optical radiation are circularly polarized. It is shown that the spin polarization is basically determined by the XUV photoabsorption and that the sidebands are spin polarized as well. Their polarization may be larger or smaller than that of the central photoelectron line depending on the helicity of the dressing field.