Metals helping metals: The bimetallic spirocyclic bridged‐carbene complex 1 reacts almost quantitatively with CO by formal “insertion” into the RhC(Li) bond to form the dimeric complex 2, the first example of a μ2,η2‐(O,C) lithium–rhodium ketene complex (see scheme). Complex 2 reacts with water to transform the ketene ligand into a methine group by CO elimination.