I am trying to derive a few indicators for the Emini using the data from a basket of stocks of the S&P 500 Index. For which i need real time (Minimum 1 minute resolution) data feed directly into my Spreadsheet for all the 500 stocks symbols simultaneously.

Which data provider will be suitable solution for me? Since this is just for prototype testing, i intend to keep the data feed cost to the minimum.

Also, Can this be accomplished by Google/Yahoo feed without delay?

Since you already use IB you can connect to Excel with their API:
https://individuals.interactivebrokers.com/en/software/api/api.htm
With a 1 minute time frame their data should be good enough to at least get started.