We demonstrate a surface emitting 1.5 mu m multi-quantum well (MQW) light-emitting diode (LED) on a 3-inch epitaxial lateral overgrowth (ELOG) InP/Si wafer. The enhanced crystalline quality of ELOG InP/Si is revealed by various characterization techniques, which gives rise to a MQW with high photoluminescence intensity at 1.5 mu m and interference fringes arising from the vertical Fabry-Perot cavity. The LED devices exhibited strong electroluminescence intensity that increased with pump current. Moreover, transparency current measurements indicate optical gain in the 1.5 mu m MQW on InP/Si. The results are encouraging for obtaining wafer scale 1.5 mu m surface emitting laser structures on silicon with further optimization.