Reaction catalyzed by inositol phosphorylceramide synthase (2.7.1.227)

		+		a very-long-chain (2\'R)-2\'-hydroxyphytoceramide	=			+		a very-long-chain inositol phospho-(2\'R)-2\'-hydroxyphytoceramide
	1-phosphatidyl-1D-myo-inositol	+		a very-long-chain (2'R)-2'-hydroxyphytoceramide	=		1,2-diacyl-sn-glycerol	+		a very-long-chain inositol phospho-(2'R)-2'-hydroxyphytoceramide