You gain a +5 ft. enhancement bonus to land speed, a +2 dodge bonus to AC, and a +2 competence bonus to Move Silently checks. The dodge bonus to AC, being a dodge bonus, is the only one of the three bonuses that can stack with similar effects (the movement speed increase will not stack with effects such as haste and longstrider, while the Move Silently bonus will not stack with effects such as the benefits of a pair of boots of elvenkind or an elixir of sneaking). However, multiple castings of light steps will not allow the dodge bonus from this spell to stack with itself (though it can stack with dodge bonuses from other spells).