Yes a student even with an IEP can be expelled from school if the student does something bad enough to warrant being expelled from school.
First though the student with the IEP would be suspended for at least 10 days and then a meeting would be held to see if the student needs expelled longer.
In some cases the student may then need to be expelled from that school district if the suspension is not enough.
There will usually be ample warning about the student being expelled though when they have an IEP because a meeting has to be held.
But an IEP doesn't exempt a student from expulsion from school.
Any student can be suspended or expelled if they do something bad enough.