Nuwan Kulasekara's whirlwind knock worth 73 and a spirited lower-order effort failed to propel Sri Lanka to a win against Australia in the first of three finals of the CB Series.
Sri lankans were bowled out 15 runs short chasing 322.
Brett Lee bowled Australia into a powerful position at the Gabba. He took three wickets while David Hussey's four left Sri Lanka floundering.
Kulasekara however, partnered with Upul Tharanga to smash the hosts and script a rescue.
Dhammika Prasad also managed to gather 31 off 21 taking the match to the final over.
The win however, eluded the team as Shane Watson dismissed the last batsman in Lasith Malinga to claim three from the match and end on a winning note.
Earlier in the day, David Warner's first ODI century pushed Australia to the second-highest total ever recorded in a one-day international at the Gabba and left Sri Lanka needing something special to win the first final.