This paper presents cyclostationarity-based spectrum sensing algorithm implementation for detection of OFDM signals. The detector utilizes two distinct auto-correlation delays and introduces compensation of the phase difference between the two cyclic auto-correlation functions. This improves detection sensitivity (or alternatively reduces detection time) compared to other similar algorithms while maintaining the constraint on false alarm rate. The phase compensation can be performed without requiring any new information about the signal properties. Furthermore, incorporation of the phase compensation reduces overall computational complexity of the algorithm and therefore leads to simpler implementation that uses fewer logic gates and consumes less power.