Small Business Innovation Research Enhancement Act of 2011 or SBIR Enhancement Act of 2011 - Amends the Small Business Act to increase from 2.5% to 5% the amount that each federal agency with an extramural research and development budget in excess of $100 million must spend specifically in connection with Small Business Innovation Research (SBIR) programs provided through the Small Business Administration (SBA).
Directs the SBA Administrator to modify SBIR policy directives to provide for an increase to $200,000 in the amount which an agency may award in the first phase of an SBIR program, and to $1.5 million the amount for the second phase, with an adjustment of such amounts once every five years to reflect economic adjustments and programmatic considerations.