We present a search for beta plus/EC double beta decay of 120Te performed with the CUORICINO experiment, an array of TeO2 cryogenic bolometers. After collecting 0.0573 kg y of 120Te, we see no evidence of a signal and therefore set the following limits on the half-life: T1/2 (0nu) > 1.9 10^{21} y at 90% C.L. for the 0 neutrino mode and T1/2 (2nu) > 7.6 10^{19} y at 90% C.L. for the two neutrino mode. These results improve the existing limits by almost three orders of magnitude (four in the case of 0 neutrino mode).
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