Preheat your grill to medium-high heat.
Rinse the chicken inside and out, and pat dry with paper towels.
Rub the chicken with olive oil, then season with salt, pepper, paprika, garlic powder, and onion powder.
Open the beer can and drink half, or pour it out. Place the can on a solid surface. Grabbing a chicken leg in each hand, place the bird cavity over the beer can.
Transfer the chicken on the beer can to the grill, balancing the bird on its two legs and the can like a tripod.
Cook the chicken over indirect medium-high heat, with the grill cover on, for about 1 ½ hours or until the internal temperature registers 165°F in the breast area and 180°F in the thigh, or until the juices run clear when the thigh is pierced with a sharp knife.
Carefully remove the chicken and the can from the grill, being careful not to spill the hot beer. Let the chicken rest for 10 minutes before carving.