This letter proposes an automatic IQ imbalance compensation technique for quadrature modulators by means of spectrum measurement of RF signal using a spectrum analyzer. The analyzer feeds back only magnitude information of the frequency spectrum of the signal. To realize IQ imbalance compensation, the conventional method of steepest descent is modified; the descent direction is empirically determined and a variable step-size is introduced for accelerating convergence. The experimental results for a four-channel transmitter operating at 11 GHz are presented for verification.