The dynamic response of InAs/GaAs self-assembled quantum dots (QDs) to strain is studied experimentally by periodically modulating the QDs with a surface acoustic wave and measuring the QD fluorescence with photoluminescence and resonant spectroscopy. When the acoustic frequency is larger than the QD linewidth, we resolve phonon sidebands in the QD fluorescence spectrum. Using a resonant pump laser, we have demonstrated optical frequency conversion via the dynamically modulated QD, which is the physical mechanism underlying laser sideband cooling a nanomechanical resonator by means of an embedded QD.