We propose the mechanism of interlayer exchange coupling in Fe/ Si structures, based on three principal ideas: ͑i͒ Contact induced ferromagnetic phase of body-centered-cubic iron silicide and spin-polarized interfacial states are formed at the Fe/ Si boundaries; ͑ii͒ exchange coupling between Fe layers is effectuated by means of the superexchange of spin-polarized interfacial states through the nonmagnetic semiconductor spacer; ͑iii͒ the complex character of the dependence of interlayer exchange coupling on the spacer thickness and composition is due to the competition between antiferromagnetic and ferromagnetic components of superexchange. We calculate the bilinear and biquadratic components of an exchange coupling energy in the framework of a simple two-band scheme of electron spectrum inside the spacer at zero temperature. Our model qualitatively explains existing experimental results.