Lacey has received numerous rewards/nominations throughout his career including a Horizon Individual nomination (1993), Singing News Favorite Baritone nominations (1993, 1994), Favorite Lead nominations (1994, 1995, 1999), a Dove Award as a member of Gold City (1994). He has also been inducted into the Alabama Music Hall of Fame as a member of Gold City.
The Steve Lacey Trio had three Top 40 hits in 1999 and 2000. Original members of the trio were Steve, his wife Penny and Steve's brother Mark Lacey. Russ Randolph replaced Mark Lacey in 1998 and stayed with the group through 2000. Kelly Lacey, Steve and Penny's oldest daughter, replaced Randolph.