Does the infield fly rule apply to a bunted ball?
No, as long as it is a fair ball. Once the umpire signals the
infield fly rule the batter is automatically out. However, if the
ball is dropped and is ruled a foul ball, the umpire reverses his
call and the batter continues his turn at bat. Nevertheless, the
batter can not reach first from that batted ball. You will often
find an umpire state "Infield fly, Batter is out if Fair". When the
rule is in effect, the batter may not get on first base.