Spence, 19, will spend the next month at Glanford Park and is likely to be thrust straight into the side for the visit of Middlesbrough on Tuesday night.
Manager Nigel Adkins will make the change as Andrew Wright has a foot injury.
Spence made 20 appearances for Leyton Orient in League One last season and was part of the Hammers squad for the pre-season tour of China. He has captained England at every level upto the U20s.