Tuesday night, the actor received the fourth ever Friars Club Entertainment Icon award. The evening was a toast, not a roast.
Alec Baldwin hosted the event at the Waldorf-Astoria. He joked that any time he finds himself taking on too many tasks at once, he hums the theme from "Mission: Impossible."
Speakers included such former co-stars as Cuba Gooding Jr. and Kevin Pollak.
Jerry Lewis was scheduled to present the award to Cruise, but the comedian collapsed just before he was due on stage. The 86-year-old was apparently suffering from low blood sugar.
Lewis was supposed to receive an award of his own at the event - the Applause Award.
Publicist Rob Goldstone released the following statement Wednesday morning, saying the comedian was back at his hotel and out of the hospital. Goldstone said the comedian is feeling much better Wednesday and that he wants to thank everyone for their good wishes.
The Associated Press contributed to this report.