In voting to suspend Mr Paisley, MPs were endorsing the punishment recommended by the Committee on Standards during a Commons debate.
Mr Paisley was not present in the chamber for the debate.
Sinn Fein's leader in Northern Ireland Michelle O'Neill has called on the party to clarify whether it would endorse Mr Paisley as a candidate in a by-election.
"They need to be clear whether they believe it was acceptable for one of their MPs to be actively lobbying on behalf of a regime that carried out mass murder, war crimes and gross human rights abuses," she said.
"And if indeed this scandal does lead to a by-election in North Antrim, the DUP needs to be clear whether they will endorse Ian Paisley as a candidate, given his clear intention to stand."
TUV leader Jim Allister said: "Today in Parliament Ian Paisley reaped what he sowed. The biggest losers in this scandalous saga are the Brexit voting people of North Antrim who in upcoming crucial votes will now be left without a voice or a vote, because of the antics of Mr Paisley."
Today in Parliament Ian Paisley reaped what he sowed.
The biggest losers in this scandalous saga are the Brexit voting people of North Antrim who in upcoming crucial votes will now be left without a voice or a vote, because of the antics of Mr Paisley.
It comes after it was revealed that Mr Paisley took his family on two holidays paid for by the Sri Lankan Government.
The House of Commons Commitee on Standards found Mr Paisley to have "brought the house into disrepute".
The North Antrim MP admitted that he received over £50k worth of hospitality on the trips.
Mr Paisley was also found to have breached rules on paid advocacy when he lobbied then Prime Minister David Cameron on a UN resolution concerning Sri Lanka.
Mr Paisley could be further punished through a petition to recall him which would force a by-election in North Antrim.
The rules state that a recall petition can be called after the Speaker of the House of Commons notifies them that an MP has been barred from the House of Commons for 10 sitting days or 14 calendar days.
Once a Petition Officer has opened a recall petition, it will be open for signing for six weeks. If at least 10% of the electorate in the constituency signs the petition, the MP will lose their seat and a by-election will be triggered. The recalled MP can stand as a candidate at the by-election.
Writing in the Ballymena Guardian on Tuesday, Mr Paisley said he had "no intention of going quietly into the night".
"Make no mistake about it, I will seek re-election as I have never run away from an election in my life and I don't intend to do so now," he wrote.