  S^3 is a simple principle bundle which is locally S^2 \times S^1. It has been
shown that such a space can be constructed in terms of matrix models. It has
been also shown that such a space can be realized by a generalized
compactification procedure in the S^1 direction. We investigate the effective
action of supersymmetric gauge theory on S^3 with an angular momentum cutoff
and that of a matrix model compactification. The both cases can be realized in
a deformed IIB matrix model with a Myers Term. We find that the highly
divergent contributions at the tree and one loop level are sensitive to the uv
cutoff. However the two loop level contributions are universal since they are
only logarithmically divergent. We expect that the higher loop contributions
are insensitive to the uv cutoff since 3d gauge theory is super renormalizable.
