Venerate

Pronunciation:
\ˈve-nə-ˌrāt\

Definition:
1: to regard with reverential respect or with admiring deference
2: to honor (as an icon or a relic) with a ritual act of devotion

Etymology:
Latin veneratus, past participle of venerari, from vener-, venus love, charm

First Known Use: circa 1623
This is a nice word to have in your vocabulary. When our school district was recently prevented from a student saying a prayer over the PA system before football games, a great many Friday night fans chose to say The Lord's Prayer during the moment of silence. I would say that we used that time to venerate the Lord with our corporate recitation.
 
When you see Catholics make the sign of the cross, they are venerating the death and resurrection of Jesus. Just as many protestants wear a cross as jewelry.
 
A listed synonym for this word is "deify". I have to disagree with this because I don't think the vast majority of wearers of a cross actually worship the item. They don't deify the object. It is merely an outward sign of the inward devotion. What do you think?