Infrared quasi-stellar objects (IR QSOs) are a rare subpopulation selected from ultraluminous infrared galaxies (ULIRGs) and have been regarded as promising candidates of ULIRG-to-optical QSO transition objects. Here we present NOEMA observations of the CO(1-0) line and 3 mm continuum emission in an IR QSO IRAS F07599+6508 at $z=0.1486$, which has many properties in common with Mrk 231. The CO emission is found to be resolved with a major axis of $sim$6.1 kpc that is larger than the size of $sim$4.0 kpc derived for 3 mm continuum. We identify two faint CO features located at a projected distance of $sim$11.4 and 19.1 kpc from the galaxy nucleus, respectively, both of which are found to have counterparts in the optical and radio bands and may have a merger origin. A systematic velocity gradient is found in the CO main component, suggesting that the bulk of molecular gas is likely rotationally supported. Based on the radio-to-millimeter spectral energy distribution and IR data, we estimate that about 30$%$ of the flux at 3 mm arises from free-free emission and infer a free-free-derived star formation rate of 77 $M_odot {rm yr^{-1}}$, close to the IR estimate corrected for the AGN contribution. We find a high-velocity CO emission feature at the velocity range of about -1300 to -2000 km s$^{-1}$. Additional deep CO observations are needed to confirm the presence of a possible very high-velocity CO extension of the OH outflow in this IR QSO.
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