Flying
Instant and sorcery spells you cast with mana value 5 or greater cost {1} less to cast.
If there is an {X} in the spell’s mana cost, use the chosen value for X to determine its mana value. For example, if you cast a sorcery with mana cost {X}{U} and choose 4 for X, its mana value is 5.
Spectacle Mage’s second ability can’t reduce the colored mana requirements in spells you cast.
Spectacle Mage’s second ability only looks at the mana value of a spell, not the cost you’re paying for it. For example, if you control two Spectacle Mages and cast a sorcery with mana cost {4}{U}, the cost will be reduced to {2}{U}.