The most common and most likely answer to this crossword clue is the 9 letter word RE-ENACTS
I've seen this crossword clue in The Times
R
E
-
E
N
A
C
T
S
Buddy explains!

The straight part
We know that "ives repeat performance of" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case ives repeat performance of = re-enacts.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RE-ENACTS mean?
RE-ENACTS verb- To enact again.
- To recreate an event, especially a historical battle.