We have suggested B2-(Pt, Ir)Ti as high temperature shape memory alloys. The phase transformation of (Pt, Ir)-50at% Ti from B2 to B19(2H) or 4H(4O) structures was investigated in our previous study. The microstructure suggested martensitic transformation. In this study, thermal expansion measurement and cyclic compression test were performed for (Pt, Ir)Ti to investigate if the shape memory effect appears. High temperature strength was also investigated because phase transformation temperature of the (Pt, Ir)Ti is above 1273 K and high strength is necessary as high temperature shape memory alloys in order to suppress dislocation motion and stabilize martenstic transformation. The potential of (Pt, Ir)Ti as high temperature shape memory alloys will be also discussed.