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Combine Italian dressing, lime juice, honey and cumin in a small bowl. Place steak and 1/3 cup marinade in a resealable plastic bag; turn to coat. Refrigerate 6 hours, turning occasionally. Refrigerate remaining marinade.
Preheat grill to medium. Remove steak; discard marinade. Brush peppers with some of reserved marinade. Grill steak, uncovered and turning occasionally, 17 to 21 minutes for medium rare to medium doneness (internal temp 150° F to 160° F). Grill peppers, turning occasionally, 12 to 15 minutes or until tender. Brush steak and peppers occasionally with marinade; do not brush during the last 5 minutes.
Carve steak across the grain into thin slices. Season with salt. Serve peppers as side dish.