The idea that targeted exercise will eliminate spots of fat is a myth. All it'll do is help your muscles poke through the fat that's there.
The liver converts triglycerides (fat stores) into glycogen (water weight) when you've built a deficit of glycogen. This can happen either through exercise or a low-calorie diet.
What that means is that the body takes fat from all over the place when you're losing weight. It doesn't matter whether or not a specific area has been exercised. When the body faces a glycogen shortage, triglycerides are shuttled to the liver through the blood, then shuttled out to the muscles for later use.
In men, hormones dictate that the belly is the quickest place triglycerides are deposited, and the slowest place they're drawn from. (in women, incidentally, it's the hips) That means you have to get your body fat percentage down if you want to get rid of the last of your belly fat. Most people lose that last little bit at around 5-7% body fat.
So if you want to lose it, you just need to go through a general cutting phase and shed a couple of pounds. Try spreading about 1,500 calories out through the day, coupled with MODERATE exercise (strenuous exercise will make it very difficult not to eat). You should be able to drop 2-3 lbs. a week and get rid of that last bit of fat in less than a month.
Hope this helps!