Spike and slab priors play a key role in inducing sparsity for sparse signal recovery. The use of such priors results in hard non-convex and mixed integer programming problems. Most of the existing algorithms to solve the optimization problems involve either simplifying assumptions, relaxations or high computational expenses. We propose a new adaptive alternating direction method of multipliers (AADMM) algorithm to directly solve the presented optimization problem. The algorithm is based on the one-to-one mapping property of the support and non-zero element of the signal. At each step of the algorithm, we update the support by either adding an index to it or removing an index from it and use the alternating direction method of multipliers to recover the signal corresponding to the updated support. Experiments on synthetic data and real-world images show that the proposed AADMM algorithm provides superior performance and is computationally cheaper, compared to the recently developed iterative convex refinement (ICR) algorithm.