"You have permission to call me anything you want -- except sir, all right? Lord of lords, your demigodness, that'll do," he told reporters afterward.
Because he is an Irish citizen, Bono won't have the title of "sir" before his name.
Reddaway paid tribute to Bono's work as a campaigner against poverty and disease in Africa -- but first asked whether he was disappointed that becoming a knight no longer involves a sword or kneeling.
"Please, I wasn't expecting you to kneel," said Bono, his hand on the ambassador's shoulder.