6-7 freshman combo forward Greg Brunner gave the Hawkeyes a slim 24-22 lead with 6:31 remaining in the game.
Michigan (14-8, 7-2) would come back and take a 31-29 lead into the locker room at halftime.
The second half would start off good for Iowa, but that all changed rather quickly as a couple of scoring draughts in the second half haunted the Hawkeyes.
With 14:04 remaining in the game, 6-1 senior combo guard Chauncey Leslie penetrated and dished to Brunner for an easy lay up, giving the Hawkeyes their largest lead at 46-40.
The game changed dramatically for the Hawkeyes, who were leading 46-42, when Leslie picked up his fourth foul with 11:53 remaining when he tried to pick the pocket of 5-11 freshman point guard Daniel Horton.
Michigan would use an 18-4 run over the next 7:40 to turn a seven-point deficit into an eight-point lead with 6:24 remaining in the game. Iowa went scoreless for 4:56 during that time.
Iowa would draw within four points at 58-54 on a lay up by 6-7 junior forward Glen Worley, but seven straight points by 6-6 junior forward Bernard Robinson Jr, and 6-7 senior guard Lavell Blanchard ended any thoughts of a Hawkeye comeback.
Blanchard drained a three pointer with 1:59 remaining giving the Wolverines a 63-54 lead, while Robinson's break away dunk with 1:46 remaining gave the Wolverines their largest lead at 65-54, and helped seal the win for the Wolverines.
Iowa, which fell to 12-7 overall and 4-4 in conference play with the loss, was led in scoring by 6-9 junior center Sean Sonderleiter's 16 points. Horner and Boyd both finished with 12 points respectively.
The Hawkeyes will be back on the road again for their next contest, as they travel to Minneapolis, MN to take on the always-tough Minnesota Golden Gophers on Wednesday night.