  We simulate the Shastry-Sutherland model in two dimensions by means of
infinite projected entangled-pair states (iPEPS) - a variational tensor network
method where the accuracy can be systematically controlled by the so-called
bond dimension. Besides the well established dimer and N\'eel phase iPEPS
confirms the presence of an intermediate phase with plaquette long-range order,
and we determine its phase boundaries with high accuracy. The first order phase
transition for $J=0.675(2)$ between dimer and plaquette phase is compatible
with previous series expansion results. iPEPS predicts a weak first-order phase
transition between plaquette and N\'eel phase occurring for $J=0.765(15)$. We
do not find a stable intermediate columnar-dimer phase, even when we bias the
state towards this order.
