  Magnetic excitations in cycloidal magnet LiCu$_2$O$_2$ are explored using THz
absorption spectroscopy in magnetic fields up to 12 T. Below the spin ordering
temperature we observe eight optically active transitions in the spin system of
LiCu$_2$O$_2$ in the energy range from 4 to 30 cm$^{-1}$. In magnetic field the
number of modes increases and the electric polarization flop is seen as a
change in magnetic field dependence of mode energies. The polarization
dependence of two of the modes in zero magnetic field fits the selection rules
for the cycloid tilted by $\theta=41\pm1^{\circ}$ from the bc plane. For the
remaining six modes electric and magnetic dipole approximations cannot explain
the observed polarization dependence. We do not see the electromagnon in the
explored energy range although there is evidence that it could exist below 4
cm$^{-1}$.
